Prepaid expenses a. are an advance payment of cash. b. are an advance receipt of cash. c. do not require an adjusting entry. d. are similar to accrued expenses because both have been recorded Which of the following statements about vertical analysis is NOT true? a. It is useful for analyzing relationships within a financial statement. b. Each line item is expressed as a percentage of some total or key amount within the same statement. c. It is useful for analyzing changes in financial statements over time. d. The dollar amount of change in each line item is determined