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14. Describe what is meant by the term responsibility accounting. 15. Net present value and Internal rate of return are excellent methods to help

14. Describe what is meant by the term responsibility accounting. 15. Net present value and Internal rate of return are excellent methods to help us determine whether we should invest in capital assets. Why, then, do we still use those "quick and dirty" methods of evaluation like payback period and accounting rate of return?

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