What is the basic problem with using financlal statement analysis to measure performance of a firm's financlal management?

Multiple Choice

There is no underlying theory to set guidelines for benchmarks on the measures.

There may not be any reasonable peer group for global conglomerates with which comparisons can be made based on financial analysis measures.

Some companies have operations in more than one industry and therefore no single comparable peer group.

Different firms may follow different fiscal perlods.

Different firms may use different accounting procedures which produce financial statements that are not directly comparable.