Historical comparisons are most appropriate during periods of recession or economic boom.

Name: Historical comparisons are most appropriate during periods of recession or economic boom.
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Exhibit 3.9 illustrates a 10-year period of return on sales (ROS) for a hypothetical company. As indicated by the dotted trend lines, the rate of growth (or decline) differs substantially over time periods, and periods of recession and economic boom may make the trends unreliable.

Historical Comparisons Are Most Appropriate During Periods of Recession or Economic