A statement that expresses the income statement items as a percent of total sales is called:
A) a percentage of sales income statement
B) a cross-sectional income statement
C) a common size income statement
D) a ratio based income statement

Question

Quizplus · Accepted Answer

A common size income statement expresses each item on the income statement as a percentage of total sales, allowing for easier comparisons across different companies or time periods.

A Statement That Expresses the Income Statement Items as a Percent