Both E is correct that is both a and d are correct

Choosing between expanding in Istanbul or moving operations to Izmir and choosing which delivery trucks to invest in , both these proposals should be considered as a capital budgeting for a pizza restaurant.

Capital budgeting includes choosing the projects that add value to the company.Capital budgeting is the process by which investors determine the value of a potential investment project.

Option b is wrong because it is a financial decision and does not involve any projects to invest in and choosing between short term and long term is not related to capital budgeting.

Option c is wrong because choosing a right credit policy is not related to capital budgeting decision.