Comparative Analysis Chan Corporation is interested in evaluating its assets and liabilities to see if it is operating effectively and efficiently. It is planning to make comparisons of its amounts to:

a. Budgeted amounts.

b. Industry averages.

c. Last year’s amounts.

d. Amounts from similar companies.

Assume that Chan Corporation will use only one of the listed amounts. For each one, indicate the advantages and disadvantages of using that comparison and give your recommendation as to which one should be chosen.