Which of the following are problems problems associated with payback analysis?

I. Ignores time value of money

II$.$ Ignores the more distant flows

III. May not correctly distinguish among mutually exclusive projects

IV$.$ May give multiple results if some future cash flows are negative

V$.$ Requires an arbitrary cutoff point

VI$.$ Biased against long$-$term projects

Question $17$ options:

II and V only

I, II$,$ and VI only

I, II$,$ III, V$,$ and VI only

I and II only

I, II and V only