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Common-size financial statements recast each statement item as: Multiple Choice   a percentage using industry averages for the "base number."   a percentage using a base year number for each line item.   a percentage of some "base number" on the financial statement in question.   a percentage of the "botto

Common-size financial statements recast each statement item as: Multiple Choice   a percentage using industry averages for the "base number."   a percentage using a base year number for each line item.   a percentage of some "base number" on the financial statement in question.   a percentage of the "botto

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Common-size financial statements recast each statement item as:

Multiple Choice
  •  
    a percentage using industry averages for the "base number."
  •  
    a percentage using a base year number for each line item.
  •  
    a percentage of some "base number" on the financial statement in question.
  •  
    a percentage of the "bottom line."
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