1. Financial statement analysis: A. Is the application of analytical tools to general-purpose financial statements and related data for making business decisions. B. Involves transforming accounting data into useful information for decision-making. C. Helps users to make better decisions. D. Helps to reduce uncertainty in decision-making. E. All of these. 2. The building blocks of financial statement analysis include: A. Liquidity and efficiency. B. Solvency. C. Profitability. D. Market prospects. E. All of these. 3. Standards for comparisons in financial statement analysis include: A. Intracompany standards. B. Competitors' standards. C. Industry standards. D. Guidelines (rules of thumb). E. All of these. 4. Horizontal analysis: A. Is a method used to evaluate changes in financial data across time. B. Is also called vertical analysis. C. Is the presentation of financial ratios. D. Is a tool used to evaluate financial statement items relative to industry statistics. E. Evaluates financial data across industries