Without Using Formulas, Provide a Definition of Mutually Exclusive Investment

Without using formulas, provide a definition of mutually exclusive investment decisions.

A) A situation whereby a choice has to be made between two or more projects, and choosing multiple projects is not an option.
B) A graphical representation of the relationship between varying rates of return and the corresponding NPV value.
C) The rate of return provided by a project. The value is compared with a company's rate of return to determine viability of a project.
D) A project analysis tool that measures the acceptability of a project through the difference between a project's initial investment and whether the present value of its cash flow will repay the investment.
E) A project analysis tool that measures the acceptability of a project by determining the amount of profit that can be expected based on an investment made.