In $20$X$7,$ C Co's receivables turnover ratio and average collection period was $11\mathrm{.}43$ times and $31\mathrm{.}9$ days. In $20$X$7,$ P Co's receivables turnover ratio and average collection period was $9\mathrm{.}71$ times and $37\mathrm{.}6$ days. Which of the following statements is false?Multiple ChoiceThe higher turnover ratio for C Co hurts their liquidity.C Co's management has done a better job of managing their receivables.C Co appears to be more profitable than P Co$.$P Co's lower turnover ratio has an inverse relationship to its average collection period.