Vertical analysis always involves comparing financial statement elements over a span of time.
Answer the following statement true (T) or false (F)
False
Vertical analysis of an income statement (also called a common size income statement) involves converting each income statement component to a percentage of sales. Although vertical analysis suggests examining only one period, it is useful to compare common size income statements for several years.
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When studying the detailed feasibility of a new project
a. prototyping does not affect the schedule feasibility analysis b. the need for user training will influence the schedule feasibility analysis c. protection from fraud and errors will influence the schedule feasibility analysis d. a cost-benefit review will affect the schedule feasibility analysis
All of the following are expensed under variable costing except:
A. variable selling and administrative costs and fixed selling and administrative costs. B. fixed selling and administrative costs. C. variable selling and administrative costs. D. fixed manufacturing overhead. E. variable manufacturing overhead.
Scienter is:
a. the intent to prosecute b. the intent to befriend c. the lack of intent to defraud d. the ability to defraud e. none of the other choices are correct
Which are the major modes of international transportation?
a. water and air b. water and rail c. rail and motor d. rail and air