Why should you be careful when comparing a firm with industry norms?

A. Many firms experience seasonal changes in their operations.

B. Accounting practices differ widely among firms. These differences can make the computed ratios of different firms difficult to compare.

C. Sometimes it is difficult to identify the industry to which your firm belongs, so you must select your peers and construct your own norm.

D. Published peer group or industry averages are only approximations.

E. An industry average is not necessarily a desirable target ratio or norm. You may wish to be in the top 10%.

F. All of the above.

(Option E is Not the answer)