All of the following statements regarding vertical analysis are true except:
A) Vertical analysis may be prepared for several periods to analyze changes in relationships over time.
B) In a vertical analysis of a balance sheet, each asset item is stated as a percent of total assets.
C) In a vertical analysis of an income statement, each item is stated as a percent of total expenses.
D) Major differences between a company's vertical analysis and industry averages should be investigated.
C
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When a country has a weak currency relative to other nations, imports are _____ relative to domestic products.
A) more expensive B) equal in price C) more attractive D) less expensive
The ________ is computed as the ratio of two sample variances
A) F statistic B) p statistic C) t statistic D) z statistic E) chi-square statistic
Cash, not including cash equivalents, includes:
A. Money market funds. B. IOUs. C. Customer checks, cashier checks, and money orders. D. Two-year certificates of deposit. E. Postage stamps.
A distinguishing characteristic of embezzlement is that the wrongdoer initially had proper
custody or access to the property that was embezzled. Indicate whether the statement is true or false