Given the advantages and disadvantages outlined below, which decision criteria (A, B, C, or D) is Net Present Value (NPV)?

Criteria - Advantage / Disadvantage

A - Easy to understand. Quick computation. May be best option for small-budget projects. / Does not account for all cash flows. Does not account for time value of money.

B - Accounts for all cash flows and provides same accept/reject decision as NPV for conventional cash flows on independent projects. / Cash flows may generate multiple results. Cannot be used to rank mutually exclusive projects. High results may not be best.

C - Accounts for all cash flows as well as the time value of money. / My require a tweak in order to make appropriate choices under budget constraints.

D - Accounts for all cash flows as well as the time value of money. / Can be used under budget constraints. In isolation may lead to improper ordering of projects with higher NPVs.