70. All of the following are true regarding benchmarking except A. benchmarking includes comparing one company with a key competitor B. if the industry average for gross profit is 35% and your company average is 40%, this would be considered favorable C. benchmarking includes comparing one company with the industry average D. if the industry average for cost of goods sold (COGS) is 50% and your company average is 60%, this would be considered favorable

70. All of the following are true regarding benchmarking except A. benchmarking includes comparing one company with a key competitor B. if the industry average for gross profit is 35% and your company average is 40%, this would be considered favorable C. benchmarking includes comparing one company with the industry average D. if the industry average for cost of goods sold (COGS) is 50% and your company average is 60%, this would be considered favorable

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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