The internal rate of return (IRR) is simply the return on a project viewed as an investment. Therefore any project whose IRR exceeds the cost of capital:

A) should be undertaken if the company has the resources to do it.
B) contributes to wealth because it earns more than the cost of the money used to do it.
C) should not be undertaken because IRR isn't as good as NPV.
D) a and b

Exceeds Cost

This refers to when the expenses associated with a project or operation surpass the initially estimated costs.

Return on Project

The gain or loss generated by an investment relative to the amount of money invested in the project.

Wealth Contribution

The value added to an individual's or entity's net worth as a result of investment gains, income, or other financial growth activities.