In a decision tree, caution should be used in the analysis because: $\_\_\_\_\_\_\_\_$

Question $3$ options:

A$)$

later stage decisions are probably riskier than earlier stages.

B$)$

negative NPVs should never occur.

C$)$

all real options must be included in the basic tree.

D$)$

failure and its probability should be ignored because they are irrelevant.

E$)$

early stage decisions are probably riskier than later stages.