All of the Following Statements Are True About Holding Period

All of the following statements are true about holding period returns EXCEPT

A) The most appropriate holding period is often uncertain.
B) An investment manager prefers to hold an asset only as long as it outperforms available alternatives.
C) Holding period return is a useful device for simplifying the complex investment environment.
D) Although an investor's situation can be predicted with certainty, it is not the case for her preference for a holding period.