9. The length of time required for an investment to generate cash flows sufficient to recover its initial cost is the A Nel present value B) Internal rate of return. C Pay as you go None of the above 10. The payback rule can be best s eda AXA investment is keptable in its calculated payback period is less than or equal to some pre-specified number of years. B) An investment should be accepted if the payback is positive and rejected if it is negative. An investment should be rejected if the payback is positive and accepted if it is negative. DjAn investment is acceptable if its calculated payback period is greater than some pre- specified number of years. 11. The discount rate that makes the net present value of an investment exactly equal to zero A Payback period B Internal rate of return C Average accounting return. Di Profitability index E Discounted payback period S 12. The internal rate of return (IRR) rule can be best stated as A An investment is acceptable if its IRR is exactly equal to its net present value (NPV). B An investment is acceptable if its IRR is exactly equal to zero. CjAn investment is acceptable if its IRR is less than the required return, clse it should be spected Di An investment is acceptable if its IRR is higher than the required return by 2 percentage points, else it should be rejected E) None of the above 13 Asation in which taking on investment prevents the taking of another is called A) Net present value profiling. B) Operational ambiguity Mutually exclusive investment decisions D. Issues E Multiple rates of return