Which statement is false?

The Global Reporting Initiative is the most widely used ESG disclosure framework.

Under the CCA Model, realized gains and losses are not reported in the CCA income statement.

One weakness of the CCA Model is that for certain types of fixed assets, determining current costs can be highly subjective.

The CCA Model tends to understate reported earnings relative to the historical cost model in equity oriented companies.

All of the above statements are true.