All of the following are limitations on the use of industry norms,except
A) companies that are not strictly comparable.
B) the use of different accounting procedures.
C) the existence of conglomerates.
D) the presentation of interim financial statements.

Question

Quizplus · Accepted Answer

The presentation of interim financial statements is not a limitation on the use of industry norms, as industry norms can still be calculated using the available financial information. The other options are potential limitations as they can impact the comparability of financial data.

All of the Following Are Limitations on the Use of Industry