Since each firm is a unique entity,comparison of data for the firm with industry averages is of no use in financial analysis.

Question

Quizplus · Accepted Answer

While it is true that each firm is unique, comparing its financial data with industry averages can still provide valuable insights into its performance and standing within the industry. It allows for benchmarking and identifying areas where the firm may be underperforming or outperforming in comparison to its competitors.

Since Each Firm Is a Unique Entity,comparison of Data for the Firm