Standard Industry Classification codes (SIC) are used for financial statement "benchmarks" analysis. Your company's financial results would need to be compared to others. SICs provide the format to compare a particular company's financial data to their respective SIC-industry averages.

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Standard Industry Classification codes (SIC) are used for financial statement \"benchmarks\" analysis. Your company's financial results would need to be compared to others. SICs provide the format to compare a particular company's financial data to their respective SIC-industry averages. Explain in at least 150 words how you would use SIC codes to analyze a Company Xs Accounts Receivable Turnover of four times per year versus a SIC rate of eight times per year