A common-size income statement is an accounting statement that expresses all of a firm's expenses as a percentage of:
A) total assets.
B) total equity.
C) net income.
D) taxable income.
E) sales.

Question

Quizplus · Accepted Answer

A common-size income statement expresses all of a firm's expenses as a percentage of its sales. This allows for easy comparison between different companies or between different periods for the same company.

A Common-Size Income Statement Is an Accounting Statement That Expresses