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Basic Question 0 of 8
Which of the following statements is true when analyzing a company's financial ratios?
II. Income statements would be more reflective of economic reality if replacement cost figures were used instead.
I. As long as the accounting methods used are similar, it is possible to compare two companies even if they operate in different industries.
II. Income statements would be more reflective of economic reality if replacement cost figures were used instead.
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Learning Outcome Statements
evaluate practices, policies, and conduct relative to the CFA Institute Code of Ethics and Standards of Professional Conduct;
explain how the practices, policies, and conduct do or do not violate the CFA Institute Code of Ethics and Standards of Professional Conduct.
CFA® 2025 Level II Curriculum, Volume 6, Module 45.