Question: Vertical analysis is a tool to evaluate individual financial statement items or a group of items in terms of a specific base amount. When analyzing

Vertical analysis is a tool to evaluate individual financial statement items or a group of items in terms of a specific base amount. When analyzing income statement accounts, the base is usually (revenue/expenses/net income) ____________ and for balance sheet accounts, the base is usually total (assets/liabilities/equity) ___________________ .

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