The incorrect statement is 'Horizontal analysis is usually performed after vertical analysis is complete'. The order of these analyses doesn't matter; each serves a distinctive purpose. While vertical analysis shows relative size in the financial statement, horizontal analysis identifies trends over time. The statement that is NOT true about horizontal and vertical analysis is 'Horizontal analysis is usually performed after vertical analysis is complete'. The chronological order of these analysis doesn't affect the results because these two types of analysis serve different purposes. Vertical analysis relates each item in the financial statement to a base amount set to 100%, allowing one to see each item's relative size in the financial statement. In contrast, horizontal analysis involves comparing items over a certain period of time, assisting in identifying trends that may not be visible when examining a single period. Keep in mind that any graph or analysis should be approached with a level of skepticism, as various factors such as different interpretations, time frames, and data choices can influence the outcome. #SPJ6Final answer:
Explanation:
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