Which one of the following statements is false?
a. Economic value added is a relatively new measure that is based on a traditional measure of residual income.
b. Economic value added is an after-tax measure of value added by the organization to its owners.
c. Economic value added requires a careful measure of the invested capital assets in order to determine the opportunity costs of those assets for those who provided the assets to the organization.
d. Economic value added is a measure very similar to net income and is essentially based on measuring the economic revenues of the organization.