Which depict relationships between items on a firm's financial statements, are used to discern whether a firm is meeting its financial objectives and how it stacks up against its industry peers?

Financial Ratios

Explanation:

When a company want to determine some form of relationships in its financial information and use it to make comparisons with other industry peers, or track if it is on track with its financial objectives, financial ratios is used. This accounting tool is normally used to check return on assets, return on investment, and debt-to-equity etc. These ratios tend to measure how well an organization is doing financially.

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.

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