All of the following statements about the asset approach are generally true EXCEPT

a. For a large operating business that is highly profitable, the asset approach is more costly than the income or market approaches on average.

b. For a successful operating business with \($10\) million in sales, all assets that the firm owns are likely to be appear in its audited financial statements. 

c.  The asset approach shares general valuation models with the income and market approaches.

d. A holding company's unrecognized taxes on capital assets that have appreciated in value may be a liability for valuation purposes.