The vertical analysis of a balance sheet is performed by dividing every item on the balance sheet by the amount of total assets. This will give a percentage for each asset on the balance sheet.

True

False

Using ccrual accounting, expenses are recorded and repoarte only:

a$.$ if they are paid before they are incurred

b$.$ when they are incurred and paid at the same time

c$.$ when they are incurred, whether or not cash is paid

d$.$ if they are paid after they are incurred