1) Which of the following helps to put the accounting numbers in context and understand why they turned out as they did?A) specific company strategiesB) trends in product developmentC) what is happening in the industryD) All of the above.2) Public companies; financial statements are comparative, which means that they cover:A) only 1 monthB) only 1 yearC) only 2 yearsD) 2 or more years3) Horizontal analysis involves the study of:A) percentage changes in comparative financial statementsB) percentage and/or dollar amount changes in various financial statement amounts from year to yearC) the change in key financial statement ratios over a certain time frame or horizonD) the changes in individual financial statement amounts as a percentage of some related total4) The percentage change in any individual item shown on comparative financial statements is calculated by dividing the dollar amount of the change from the base period to the current period by:A) 100B) the amount shown for the current periodC) the average of the amounts shown for the base and the current periodsD) the base-period amount5) The analysis of percentage changes in comparative statements is known as:A) economic value added analysisB) benchmarking analysisC) horizontal analysisD) vertical analysis6) The form of analysis that looks at trend percentages over a representative period is known as:A) trend analysis, which is considered a form of horizontal analysisB) trend analysis, which is considered a form of vertical analysisC) ratio analysisD) economic value added analysis