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Answer (B) is correct . If the net present value (NPV) of an investment is positive, the project should be accepted (unless projects are mutually exclusive). If the NPV is negative, the investment should be rejected.

Answer (A) is incorrect because The present value of future net cash inflows must be compared with the initial cash outlay to determine whether a project is acceptable.
Answer (C) is incorrect because An IRR may be greater than zero but less than a firm’s cost of capital, in which case the project would not be profitable.
Answer (D) is incorrect because The accounting rate of return is not based on cash flows and is irrelevant to a company’s hurdle rate.