11. Comment on the following statements: (a) 'We use payback primarily as a method of coping with...

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11. Comment on the following statements:

(a) 'We use payback primarily as a method of coping with risk.

(b) 'The virtue of the IRR rule is that it does not require the computation of the required rate of return."

(c) "The average accounting rate of return fails to give weight to the later cash flows."

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