How can I redirect 404 pages to Home Page in Magento Community?

How can I redirect 404 pages to Home Page in Magento? What files need to be modified?

Thanks,

Lane

Should I redirect all 404 to homepage?

404s should not always be redirected. 404s should not be redirected globally to the home page. 404s should only be redirected to a category or parent page if that's the most relevant user experience available. It's okay to serve a 404 when the page doesn't exist anymore (crazy, I know).

Login to the admin, go to System > Configuration > Web and change the drop-down value for CMS No Route Page in the Default Pages section. You should be able to select your CMS Home Page.