Select all what is not true about investment criteria. (2 answers) Profitability Index is an appropriate criteria to rank mutually exclusive projects. When evaluating cash flows that change sign multiple times during the period of project using IRR, you should acknowledge a possibility that there could be multiple IRRS. When evaluating mutually exclusive projects using IRR, you can always rank projects dorrectly based on NPV values. 0 pnen using payback period as an investment criterion. you are more likely to reject (biased against) long-term projects. Internal Rate of Return (IRR) gives you the rate of return which makes NPV equals to zero