Which of the following is FALSE, regarding forecasts?

a) A forecast is built using past results as a benchmark.

b) Financial ratios are most commonly used to create benchmark standards, and these ratios are then used to determine expected costs.

c) It is possible to create sensitivity analyses, which determine those financial attributes of a corporation that most affect corporate financial performance.

d) Forecasting is accurate and scientific.

e) Forecasting is necessary, even if assumptions about future performance are often wrong.