Which of the following statements about ratio analysis is true? Ratios are always expressed as percentages As part of a loan agreement, creditors may require hospitality businesses to maintain specific ratio standards. Managers, creditors, and investors have the same purposes in using ratio analysis Ratio analysis determines the causes of variances between planned goals and actual results A sunk cost is: relevant in decision-making situations a quantifiable future cost a differential cost a cost that has already been incurred