【正确答案】 C

【答案解析】If the IRR exceeds the cost of capital, that merely indicates that the project is acceptable--this is not a problem associated with IRPt. Non -normal cash flow patterns such as cash outflows during the project's life can result in multiple IRRs, leaving open the question as to which one is valid. For mutually exclusive projects, the IRR and NPV can disagree. A higher IRR will only be realized if the project's cash flows can be reinvested at the IRR, and the true profitability of a project also depends on project size, not just IRR.