Using a Base Year as 100% and Expressing Other Years

question 7

Multiple Choice

Using a base year as 100% and expressing other years as a percentage of the base year is an example of:

• A)vertical analysis.
• B)trend analysis.
• C)horizontal analysis.
• D)benchmarking.

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Definitions:

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, intended to standardize practices and streamline interstate commerce.

Unilateral Contract

A contract where only one party promises a reward in exchange for the performance of a specific act by the other party.

Contract Formality

Contract formality refers to the requisite legal formalities and procedures, such as written documentation or specific terms, necessary for a contract to be considered valid and enforceable.

Quasi Contract

A legal concept where courts impose a contract-like obligation on a party to prevent unjust enrichment, even though no real contract exists between the parties involved.