Which of the following statement(s) are true regarding limitations to ratio analysis? I. Industry identification is difficult. II. Industry averages are only approximations. III. Accounting practices are the same among firms. IV. Financial ratios can be too high or too low (e.g. current ratio). V. The industry average are always ideal. VI. Seasonality in firm operations causes ratios to vary with seasons. A. II, IV, and VI Only. B. I, II, IV, and VI. C. I, III, and VOnly. D. I Only. E. I, II, III, IV, V, and VI.