I need an explanation for this Management question to help me study.

Use of comparable multiples is an accepted method of corporation valuation. If you have to value a corporation on the basis of multiples, what steps would you take to eliminate redundant factors? If you do not have the comparable multiples available for an industry, what would you do if you boss asks you to compute comparable multiples? Give examples of comparable multiples for a publicly traded company, please make sure your company is different than your classmates’ companies.