The following are all true or flase:

$1.$ Financial statement analysis $($FSA$)$ is the process of using analytical techniques to examine and compare financial statements and other relevant data to evaluate the past and predict the future for decision$-$making purposes.

$2.$ Using a company$$s past performance as a benchmark for the company$$s current performance is an appropriate diagnostic analytics technique.

$3.$ For publicly traded firms, while firms are required to produce financial statements that follow GAAP $($Generally Accepted Accounting Principles$),$ discretion in application of GAAP is allowable.

$4.$ Voluntary disclosure refers to the additional information managers release to the public that is not required by GAAP or by law to be disclosed.

$5.$ An AAA credit rating suggests less credit risk than an AA credit rating.