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What is the major criticism of the payback period and simple rate of return methods of...

What is the major criticism of the payback period and simple rate of return methods of making capital budgeting decisions?

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The major criticism of these two methods of making capital budgeting decisions is that these methods do take into account the time value of money. A sum of money received in future is not worth the same sum of money invested today. Money received in future has less worth than money received or invested today. However, under these methods, a sum of money received in future and the same sum of money received today are weighed as same. This is a major drawback of these two methods.  

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