Which of the Following Figures of Merit Might Not Use

Multiple Choice

Which of the following figures of merit might not use all possible cash flows in its calculations?
I.Payback period
II.Internal rate of return
III.Net present value (NPV)
IV.Accounting rate of return

A) III only
B) I & III only
C) II & III only
D) I & IV only
E) III & IV only
F) I, II, III, and IV