19. The payback method analyzes cash flows; however, it does not consider the time value of money. 20. The present value of an amount to be received in five years is exactly twice as large as the present value of an equal amount to be received in ten years. 21. Which of the following is not a benefit of budgeting? a. The budgeting process enables managers to uncover bottlenecks as they occur b. Budgets communicate management's plans throughout the organization c. Budgets define goals and objectives that can serve as benchmarks for evaluating subsequent performance Answer True or False for questions 1-20