Question：Which one or more of the following are valid limitations of ratio analysis?
A. They can be misleading.
B. Ratios are not defined in a standard form.
C. They can be subject to manipulation.
D. Their usefulness depends on the availability of comparable data.
The correct answers are:Ratios are not defined in a standard form; Their usefulness depends on the availability of comparable data; They can be subject to manipulation.
解析：Ratios are not misleading of themselves. They can be manipulated and should not be considered in isolation but provided they are used properly they should not be misleading.
There are commonly used ratios but the elements put into the numerator and denominator are not prescribed in an IAS or IFRS, hence they are not defined in a standard form. The quality of data is key to producing meaningful ratios. As ratios are not strictly defined they can be manipulated.
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