Why is IRR considered a better measure than Payback Period?

Why is IRR considered a better measure than Payback Period?

آئی آر آر کو پے بیک پیریڈ سے بہتر پیمانہ کیوں سمجھا جاتا ہے؟
Explanation

IRR considers time value of money, unlike Payback Period.

IRR discounts cash flows to present value, making it a more comprehensive measure.