All of the Following Statements Are Correct Except

Multiple Choice

All of the following statements are correct except:

A) Capital budgeting is the process of identifying, evaluating, and implementing a firm's investment opportunities.
B) Capital budgeting seeks to identify projects that will enhance a firm's competitive advantage and by so doing increase shareholders' wealth.
C) By its nature, capital budgeting involves long-term projects, although capital budgeting techniques also can be applied to working capital decisions
D) Capital budgeting projects usually require large initial investments and may involve acquiring or constructing plant and equipment.
E) all of the above statements are correct