Which of the following statements is FALSE regarding multiples (or valuation ratios)?

Group of answer choices

A)It is always better to rely on prior comparable transactions instead of public comparable firms when obtaining multiples to perform Relative Valuation

B)Investors can use multiples as a quick way to access whether the value of a firm seems high relative to other firms with similar growth/risk characteristics

C)When choosing a multiple for Valuation purpose, we should consider which firm fundamental better captures the firms ability to produce cash flows going forward

D)Over the long term, firms' multiples tend to (at least partially) converge to their industry multiple

E)Comparing firms in the same industry based on multiples relies on the assumption that firms in the same industry have similar risks and growth opportunities