1. Which of the following statements is FALSE?
The payback period tends to ignore the later cash flows.
The payback period is useful as a rough measure of a project's liquidity.
The payback period ignores the time value of money.
The payback period depends on the cost of capital (WACC).
2. All of the following are excludable from taxation either at the federal or state level EXCEPT
A-Municipal Bonds
B-Treasury Securities
C-Dividends from a qualified corporation
D- Profit from the sale of a personal residence