Which one of the following statements is False?

	a.	When performing an industry analysis, it is necessary to consider more than the growth of the customer base and revenues beyond that of the valuation subject company.
	b.	The purpose of a comparative industry analysis is only to compare the subject companys capitalization rates with those of its peer groups.
	c.	A SWOT analysis is performed at the Subject Company level.
	d.	A SWOT analysis identifies the internal and external factors that affect a companys ability to do business.