Question: Horizontal analysis is analysis in which 1. financial statement lines are expressed as a percent of the base (earliest) year. 2. all items are presented

Horizontal analysis is analysis in which

1. financial statement lines are expressed as a percent of the base (earliest) year.
2. all items are presented as a percentage of one selected item on the financial statement.
3. a statistic is calculated for the relationship between two items on a single financial statement or for two items on different financial statements.
4. ratio increases and decreases are presented for the past two accounting periods.

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