Common size income statement - Characteristics

Q.  Which of the following statements are true?

A) Common-size balance sheet shows relative value of the various items.
B) In the common size income statement, each product is represented as a percentage of the net sales figure.
C) Common size income statements represent the various elements as a percentage of the gross profit.
- Published on 11 Sep 15

a. Both A and B
b. Both A and C
c. Both B and C
d. A, B, C

ANSWER: Both A and B

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