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The Savvy Entrepreneurial Firm boxed feature in Chapter 8 focuses on a scenario involving the selection of a new CEO for New Venture Fitness Drinks. The lesson learned from the feature was:
A) ratio analysis is ineffective
B) income statements are more effective in assessing how well a firm performing financially than are balance sheets and statements of cash flow
C) look at multiple years of an income statement rather than a single year to fairly assess how well a firm is performing financially
D) compare a firm's financial ratios against its primary competitors and industry norms to fairly assess how well a firm is performing financially
E) the most powerful instrument for understanding how well a firm is performing financially is the statement of cash flows

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