Industry standards for financial statement analysis:
A) Are based on a single competitor's financial performance.
B) Are set by the government.
C) Are based on rules of thumb.
D) Are available for the financial performance and condition of the company's industry.
E) Compare a company's income with its prior year's income.

Question

Quizplus · Accepted Answer

Industry standards for financial statement analysis are based on the financial performance and condition of the company's industry. These standards are developed by independent organizations and are used as benchmarks for comparing a company's financial performance to that of its peers in the same industry.

Industry Standards for Financial Statement Analysis