According to the lecture/textbook, which are the following are TRUE regarding financial and ratio analysis:

Different accounting practices do not distort financial comparison, meaning if Company A uses straight line depreciation while Company B uses Double Declining Balance does not affect financial statement analysis when comparing these two companies.

Firms cannot do window dressing of their financial statements because their financial statements are audited and doing window dressing is fraud.

None of the selections are true

Trend analysis for ratio and real number analysis is important to do because trend analysis shows past performance, present numbers and can help estimate the likelihood of improvement or deterioration in its financial condition.

Season factors do not affect financial analysis or ratio analysis.