Exam Question

It depends on how it is being calculated. (If by 'exam question' you are referring to the real exam last week, then I am not going to comment yet because I have not seen the exam paper (and will not see if for several weeks))

Yeah im refering the real exam question it had different options. and the question was which of the following is true and i selected this option. (ROCE considers full life of the project)

Was it referring to investment appraisal? What were the other options?

Unfortunately I don’t remember other options properly but they were all linked to investment appraisals.