Which of the following statements is FALSE?

a$.$

The intuition behind the use of the P$/$E ratio is that when you buy a stock, you are in a sense buying the rights to the firm's future earnings and differences in the scale of the firms' earnings are likely to persist.

b$.$

A firm's P$/$E ratio is equal to the share price divided by its earnings per share.

c$.$

None of them.

d$.$

You should be willing to pay proportionally more for a stock with lower current earnings.

e$.$

The most common valuation multiple is the price$-$earnings $($P$/$E$)$ ratio.