Which of the following situations can lead to IRR giving a different decision than NPV?

Question

Quizplus · Accepted Answer

A delayed investment can lead to IRR giving a different decision than NPV because IRR assumes that cash flows are invested immediately, while NPV considers the timing of the cash flows. 
Differences in project scale can lead to different decisions because IRR considers the percentage return on investment, while NPV considers the absolute value of the return on investment. 
Multiple IRRs can also lead to different decisions because it becomes difficult to decide which IRR to use.

Which of the Following Situations Can Lead to IRR Giving