An example of a strategic management decision is the decision to outsource a particular value-chain function

What does it mean to benchmark by industry? Why is this needed when conducting a financial ratio analysis?

What will be an ideal response?

Which of the following is not among the ways discussed in the text to understate accounts payable?

a. Make it appear as if liabilities have been paid off when they have not. b. Overstate purchase returns. c. Understate purchase discounts. d. Not record purchases.