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Which of the following statements is true? 1. Vertical analysis of financial statements is accomplished by preparing common-size statements. II In determining whether a company's financial condition is improving or deteriorating over time, horizontal analysis of financial statemernt dota would be more useful than vertical analysis. 1U. A common-size financial statement is a vertical analysis in which each financial statement account is expressed as a percentage. Multiple Choice Orly statement 1 is trues All of the statements are true. stotempnts al and iil are tue. Oaly whatement i is true