Which one of the following is false regarding investment decision-making criterion?
A) The profitability index favors smaller projects and may lead to the wrong decision when deciding between mutually exclusive projects.
B) The MIRR is an attempt to solve the problem of deciding between mutually exclusive projects using internal rate of return.
C) You should pursue positive NPV projects.
D) IRR may lead to the wrong decision when deciding between mutually exclusive projects.
E) Payback period requires an arbitrary cut-off or decision making.