Guidelines (rules-of-thumb) are general standards of comparison developed from:
A) Industry statistics from the government.
B) Relations between financial items.
C) Analysis of competitors.
D) Past experience.
E) Dun and Bradstreet.

Question

Quizplus · Accepted Answer

Guidelines or rules-of-thumb are typically developed from past experiences and observations. They often serve as a reference point for decision-making and as a basis for comparison when evaluating financial performance. While industry statistics, competitor analysis, and credit reporting agencies like Dun and Bradstreet may be used in developing guidelines, past experience is typically their primary source.

Guidelines (Rules-Of-Thumb) Are General Standards of Comparison Developed From