Limitations of accounting statements

Which of the following is a limitation when comparing the accounting ratios of different businesses?

May/June 2025

Benson intended to compare his profitability against that of his competitors. However, the preparation of his financial statements was held up for a long time because a fire broke out in the room where the records were stored. What does this delay affect?

May/June 2025

Jose runs a business offering accounting and book-keeping services. What is not relevant when examining his business financial statements?

Oct/Nov 2025