What are the components of net cash outlay in the capital budgeting decision? At what time is such an outlay incurred in the case of conventional cash flows? Discuss the problems of ranking projects...

What are the components of net cash outlay in the capital budgeting decision? At what time is such an outlay incurred in the case of conventional cash flows? Discuss the problems of ranking projects with varying economic lives, sizes and patterns of cash outflows and inflows.