Which of the following statements is not true?

Select one:

a. Operating leverage refers to the extent to which a company's net income reacts to a given change in sales.

b. Companies that have higher fixed costs relative to variable costs have higher operating leverage.

c. When a company's sales revenue is increasing, high operating leverage is good because it means that profits will increase rapidly.

d. When a company's sales revenue is decreasing, high operating leverage is good because it means that profits will decrease at a slower pace than revenues decrease.