For each of the following limitations of the capital project evaluation methods, indicate to which method, or methods, the limitation applies. Consider all of the following methods: payback, NPV, PI, IRR, and ARR (accounting rate of return).

a. Cash flows are treated as deterministic.

b. Ignores some cash flows.

c. Ignores cash flows.

d. Ignores the time value of money.

e. Ignores effects on accounting earnings.

f. Does not specifically consider cash flow preferences.

g. Can provide multiple rates of return for the same project.

h. Ignores dollar value of project benefits.