Return on Investment $($ROI$),$ though widely used, is subject to which one of the following limitations$?$

ROI cannot incorporate differences in risk across different divisions.

ROI ignores the amount of capital invested in a division.

ROI may not capture value$-$creation for firms operating in capital$-$intensive industries.

ROI may motivate managers to take suboptimal decisions from the standpoint of the organization as a whole.

ROI cannot be used to judge the performance of units of different size.