Comparative ratio analysis can be applied when analyzing performance of the company for one period against another period, performance of the company against another company and/or performance of the company against the industry (or a group of companies with the same business activities).  Is it true or false?

Financial Reporting, Financial Statement Analysis and Valuation
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ISBN:9781285190907
Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Chapter4: Profitability Analysis
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Problem 1QE: Common-Size Analysis. Common-size analysis is a simple way to make financial statements of different...
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Comparative ratio analysis can be applied when analyzing performance of the company for one period against another period, performance of the company against another company and/or performance of the company against the industry (or a group of companies with the same business activities). 

Is it true or false?

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