Assume you have are a senior accountant for a mutli-national organization.You have been asked to explain the capital budgeting process to a group of newly hired junior accountants.As part of your presentation, explain the differences between theNPV, IRR, and payback approaches.Next, discuss why the NPV approach may be better suited for a mutli-national corporation.What are the risks of NPV analysis and how important are the assumptions that must be made under this approach?Also, is it possible for the different methods to result in different decisions regarding the acceptance and ranking of project alternatives?Include a minimum of one scholarly peer reviewed journal reference in the response in addition to the textbook.