Which o f the following statements least accuratelydescribes the IRR and NPV methods？
A. The NPV tells how much the value of the firm has increased if you accept the project.
B. When evaluating independent projects,the IRR and NPV methods always yield the same accept/reject decisions.
C. When selecting between mutually exclusive projects,the project with the highest NPV should be accepted regardless of the sign of the NPV calculation.
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Should a company accept a project that has an IRR of 14% and an NPV of $2.8 million if the cost of capital is 12%？
A. Yes,based only on the NPV.
B. Yes,based on the NPV and the IRR.
C. No,based on both the NPV and IRR.
Which of the following is most accurate regarding a distribution of returns that has a mean greater than its median？
A. It is positively skewed.
B. It is a symmetric distribution.
C. It has positive excess kurtosis.
Which of the following statements least likelyrepresents a characteristic of the time-weighted rate of return？ It is:
A. Not affected by the timing of cash flows.
B. Used to measure the compound rate of growth of $1 over a stated measurement period.
C. Defined as the internal rate of return on an investment portfolio,taking into account all inflows and outflows.
Which of the following is most likely a recommended procedure for complying with the Standard on performance presentation？
A. Exclude terminated accounts from past performance history.
B. Present the performance of a representative account to show how a composite has performed.
Consider the level of financial knowledge of the audience to whom the performance is presented.
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