All of the Following Are Problems Associated with Using the Z-Score

All of the following are problems associated with using the Z-score model to make credit risk evaluations EXCEPT:

A) the model does not benchmark firms to the average in the industry.
B) the model does not use important data that is difficult to quantify such as the phase of the business cycle.
C) the model categorizes firms as either high risk or low risk.
D) All of these are problems associated with using the Z-score model.