Why May Worthwhile Investment Opportunities Be Rejected If Inflation Is

Why may worthwhile investment opportunities be rejected if inflation is ignored?

A) Inflation effects generally increase estimated future cash flows, which increases the NPV and the likelihood of acceptance.
B) The payback period for projects will be shorter than it would be if the future cash flow amounts were adjusted for inflation, which decreases the likelihood of acceptance.
C) Inflation effects generally reduce future profits and operating cash flows making the NPV smaller than if inflation is ignored, which in turn decreases the likelihood of acceptance.
D) Estimated future cash flows adjusted for inflation have larger NPVs, which increases the likelihood of rejection.