The assignment discusses two mutually exclusive projects, Project A and Project B, which have been evaluated using the Net Present Value (NPV) and Internal Rate of Return (IRR) techniques. The analysis shows that both projects have positive NPVs, but Project A has a higher NPV and IRR than Project B. Therefore, it is recommended to invest in Project A. Additionally, the assignment highlights various limitations of investment appraisal techniques, including uncertainty in estimating future cash flows, inaccurate duration of cash flow, conflicting results from different techniques, and ignoring unexpected events.