问题
单项选择题
If the calculated net present value (NPV) is negative, which of the following must be TRUE The discount rate used is:（）
A. equal to the internal rate of return (IRR).
B. greater than the internal rate of return (IRR).
C. less than the internal rate of return (IRR).
答案
参考答案：B
解析：
When the NPV = 0, this means the discount rate used is equal to the IRR. If a discount rate is used that is higher than the IRR, the NPV will be negative. Conversely, if a discount rate is used that is lower than the IRR, the NPV will be positive.