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44. Which of the following statements regarding horizontal analysis is incorrect? O Percentage analysis attempts to eliminate the materiality problem of comparing forms of different

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44. Which of the following statements regarding horizontal analysis is incorrect? O Percentage analysis attempts to eliminate the materiality problem of comparing forms of different sizes. In doing horizontal analysis, an account is expressed as a percentage of the previous balance of the same account O A horizontal analysis of cost of goods sold on the income statement includes dividing net income by total revenue Percentage analysis involves establishing the relationship of one amount to another

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