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Which of these statements about how the profitability index is used in capital budgeting is...

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Which of these statements about how the profitability index is used in capital budgeting is not true? it is a measure of value received per dollar invested and is used to rank projects in a given period it aids in the process of choosing the most valuable bundle of projects that the firm can afford O it is used in a situation of capital rationing O it ranks projects based on NPV alone

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