1(a). (TRUE or FALSE?) Whenever there is a ranking conflict between net present value and internal rate of return we generally suggest that the project with the highest net present value be chosen.

1(b). (TRUE or FALSE?) The acceptable independent projects can be ranked by using the IRR methodology, from lowest to the highest IRR.

1(c). (TRUE or FALSE?) When evaluating proposed projects with the IRR method, those projects with IRRs that are less than the required rate of return are rejected.