All of the Following Statements Are Correct Except

All of the following statements are correct except:

A) The internal growth rate measures how quickly a firm can increase its asset base over the next year using outside funds.
B) The retention rate represents the proportion of every $1 of earnings per share that is retained by the firm; in other words, it is equal to one plus the dividend payout ratio.
C) The sustainable growth rate measures how quickly the firm can grow when it uses only debt financing to keep its capital structure constant over time.
D) The internal and sustainable growth rate relationships suggest that there are three measurable influences on growth: working capital policy, total asset turnover, and the firm's borrowing rate.
E) None of the above statements are correct.
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