With Independent Projects, NPV and IRR Provide Identical Accept/reject Decisions

Multiple Choice

With independent projects, NPV and IRR provide identical accept/reject decisions. If, however, you have two mutually exclusive projects to evaluate, the most accurate thing you could say about the eventual results is that:

A) NPV and IRR may give conflicting rankings
B) NPV and IRR never give the same rankings
C) NPV and IRR always give the same rankings
D) IRR is more lenient in accepting