All of the following are true of a financial statement analysis report, except: Multiple Choice 0 Accounting standards determine which ratios are relevant and useful for the analysis. 0 The executive summary provides a brief analysis of results. 0 The analysis overview includes background on the company, its industry, and the economy. 0 Evidential matter includes ratios, trends, comparisons and all analytical measures. 0 Background on the company, its industry, and the economy is part of the analysis overview. Common-size statements: Multiple Choice o Reveal changes in the relative importance of each financial statement item to a base amount. o o Do not emphasize the relative importance of each item. Compare financial statements over time. o Show the dollar amount of change for financial statement items. o Reveal patterns in data across successive periods. Industry standards for financial statement analysis: Multiple Choice Are based on a single competitor's financial performance. Are set by the government. Are used to compare a company's performance to industry performance. Are based on rules of thumb. Compare a company's income with its prior year's income. Gains and losses that are neither unusual nor infrequent are reported as: Multiple Choice 0 A separate line item when computing earnings per share. 0 A prior period adjustment on the statement of retained earnings. 0 Again or loss from disposing of the discontinued segment's net assets. 0 A gain or loss from operation of a discontinued segment. 0 Part of continuing operations