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A is corrent. NPV assumes that cash inflows from the investment project can be reinvested at the cost of capital while IRR assumes that cash flows from each project can be reinvested at the IRR for that particular project. This underlying assumption is considered to be a weakness of the IRR technique.
B is incorrect. IRR is expressed as a percentage while NPV is expressed in dollar terms.
C is incorrect. NPV and IRR make consistent accept/reject decisions for independent projects. When NPV is positive, IRR exceeds the cost of capital and the project is acceptable.
D is incorrect. It is the NPV method that can be used to rank mutually exclusive projects, while IRR cannot be used for this purpose. The reinvestment rate assumption causes IRR to make faulty project rankings under some circumstances.