1. Which of the following is an advantage of the payback method?(Select all that apply.)

a. It's easy to apply and easy to understand for most individuals, regardless of academic training or field.

b. It's an effective measure of investment risk. It's widely used when liquidity is an important criteria to choose a project.

c. It takes into account the time value of money.

d. It takes into account cash flows beyond the payback period, thereby acknowledging the true "profitability" of a project