BUS 475 Course Great Wisdom / tutorialrank.com BUS 475 Course Great Wisdom / tutorialrank.com | Page 8

1. Vertical analysis is a technique that expresses each item in a
financial statement:

2.

Under the accrual basis of accounting:

3. the ledger accounts must be adjusted to reflect a cash basis of
accounting before financial statements are prepared under generally
accepted accounting principles.

The manager of Weiser is given a bonus based on net income before
taxes. The net income after taxes is $35,700 for FIFO and $29,400 for
LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher
is the manager's bonus if FIFO is adopted instead of LIFO?

4. For both qualitative and quantitative data, what is the difference
between the relative frequency and the percent frequency?