The cash flows of a project should: be applied to the year when the related expense or income is recognized by GAAP. be computed on a pretax basis. include all incremental costs, including opportunity costs. include all financing costs related to new debt acquired to finance the project. include all sunk costs and opportunity costs.

Gif the federal reserve did not regulate fiscal policy, monitor banks and provide services for banks, what would most likely be the economic conditions to transact business in the u.s.? the economy would primarily be based on a barter system rather than a fiat system. there would be no discrimination in lending by local banks. the economy would be less efficient and transactions most likely more costly.