A thorough analysis of financial statements will include either horizontal or vertical analysis, but not both.

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A thorough analysis of financial statements will typically include both horizontal and vertical analysis. Horizontal analysis compares financial data across multiple periods to identify trends and changes, while vertical analysis compares different line items within a single period to analyze the proportions and relationships between them. Both types of analysis provide valuable insights into a company's financial performance and should be used in combination to gain a more comprehensive understanding of its financial health.

A Thorough Analysis of Financial Statements Will Include Either Horizontal