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. Select one: a. A, B, C b. Both A and C c. Both A and B d. Both B and C

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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.

Select one:
a. A, B, C
b. Both A and C
c. Both A and B
d. Both B and C
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