In Vertical Analysis

question 1

Multiple Choice

In vertical analysis:

• A) a base amount is optional.
• B) a base amount is required.
• C) comparative statements are optional.
• D) comparative statements are required.

---

Definitions:

Payee

The person or entity to whom a payment is to be made or who receives the payment.

Negotiable Instruments

Financial documents, like checks or promissory notes, that guarantee payment of a specific amount of money to the bearer under certain conditions.

UCC

Stands for Uniform Commercial Code, which is a comprehensive set of laws governing all commercial transactions in the United States.

Anglo-American Law

A legal system originating in England and now prevalent in the United States and many Commonwealth countries, characterized by the doctrine of precedent.