Which of the following is not a time-adjusted method of ranking investment proposals? O a. Payback method O b.Net Present value method O c. Internal rate of return d. All of the above are time-adjusted methods Usually, the first step in the production of the master budget is the: O a Sales forecast O b. Sales budget O c Production budget O d. Cash budget The basic idea behind responsibility accounting is that the manager should be made accountable for: O a. only income and profits b. only expenses c. their department d. each line item in the budget