不太了解C选项

问题如下：

Which of the following statements about constructing a company’s peer group is most accurate.

选项：

If the companies are exposed to different stages of the business cycle, there will be limitation of comparing the company’s performance measure with its peer group company.

Comments from the management of the company about competitors are not likely to be used when selecting the peer group.

The lower the proportion of revenue and operation profit of the peer company derived from business activities similar to the subject company, the better the comparison will be.

解释：

A is correct.

MD&A section in the annual reports usually provide infromation about company competitive environment and specific competitors, that analysts would use to form a peer group. The higher the proportion of revenue and operating profit of the peer company derived from business activities similar to the subject company, the more meaningful the comparison.

考点：Classification of Industry

这道题考察的是可比公司构建的限制因素。选择可比公司我们主要关注的是两家公司是否从事相似的业务、有相似的市场需求和成本结构，但即便互为可比公司的两家公司如果发展处于不同的经济周期，那么他们的业绩也不具有可比性。

B:来自公司管理层关于竞争对手的评论不太可能被用于可比公司的组建。 这句话说反了，年报中管理层的讨论与分析可以为可比公司的选择和组建提供思路。

C说反了，选择可比公司我们主要关注的是两家公司是否从事相似的业务、有相似的市场需求和成本结构。因此两家公司可以互为可比公司，那么他们从相似业务中赚取的收入和利润的比例应该越大。