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Industry standards for financial statement analysis: Multiple Choice Are based on a single competitor's financial performance. Are set by the government. Are used to compare a company’s performance to industry performance. Are based on rules of thumb. Compare a company's income with its prior year's income.

Answer :

Answer:

Are used to compare a company's performance to industry performance.

Explanation:

This is used to actually rate or rank a company with other companies in the industry. Industry standards are one of the good ways for a company to benchmark.

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