Which of these statements is false? 1. Many companies will not clearly fit into any...
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Finance
Which of these statements is false?
1. Many companies will not clearly fit into any one industry.
2. A financial service uses its best judgment as to which industry the firm best fits.
3. The analysis of an entity's financial statements can be more meaningful if the results are compared with industry averages and with results of competitors.
4. When using industry averages, it is often necessary to use an industry that the firm best fits.
5. A company comparison should not be made with industry averages if the company does not clearly fit into any one industry.
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