11. Among the following statements which one is false?

1. When the NPV of a project is negative, the IRR is most likely to be superior to the required return.
2. When the NPV of a project is positive, the PI is necessarily superior to 1.
3. When the NPV of a project is negative, the PI is necessarily inferior to 1.
4. When the NPV of a project is negative, the IRR is most likely to be inferior to the required return.

12. Among following cash flows, which one (s) is (are) cash Inflows at the end of project?

1. An increase of the client account.
2. A Decrease of the client account.
3. An increase of the supplier account.
4. A decrease of the supplier account.

1. 1 and 4 only.
2. 2 and 3 only.
3. 1 and 3 only.
4. 2 and 4 only.