Which of the following statements about enterprise value metrics is NOT true?

a. EV to revenue can be used to assess companies with negative cash flows or firms that are currently experiencing financial losses.

b. ROCE is a profitability ratio that measures the return on the equity in a company in comparison to its financing over a short period of time.

c. EBIT allows investors to assess the core operations of the business without worrying about the costs of the capital structure.

d. EBITDAR is a metric that is used in businesses that have substantial rental and least expenses.