Changes in Net Working Capital

Multiple Choice

Changes in net working capital

A) are included in project analysis only if they represent cash outflows.
B) only affect the initial cash flows of a project.
C) can affect the cash flows of a project every year of the project's life.
D) are generally excluded from project analysis due to their irrelevance to the total project.
E) affect the initial and the final cash flows of a project but not the cash flows of the middle years.