In Estimating and Comparing Value,the Price-To-Earnings (P/E )Multiple Has Two

In estimating and comparing value,the price-to-earnings (P/E ) multiple has two major flaws.Which of the following are those flaws?
I.It is in squared currency units.
II.The P/E is affected by a company's capital structure.
III.The earnings (net income ) are calculated after nonoperating items.
IV.The market measure of price usually has significant error.

A) I and II only.
B) I and III only.
C) II and III only.
D) III and IV only.