On a common-base year financial statement,accounts receivables will be expressed relative to which one of the following?
A)current year sales
B)current year total assets
C)base-year sales
D)base-year total assets
E)base-year accounts receivables

Question

Quizplus · Accepted Answer

In a common-base year financial statement, all items are expressed relative to a base year, making E (base-year accounts receivables) the correct answer. This allows for comparison of financial data over time by setting a common reference point.

On a Common-Base Year Financial Statement,accounts Receivables Will Be Expressed