In a Common Size Income Statement, the 100% Figure Is

question 194

Multiple Choice

In a common size income statement, the 100% figure is

• A) net income.
• B) cost of goods sold.
• C) gross profit.
• D) net sales.

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Definitions:

Current Cost

Current cost refers to the cost of purchasing an asset or replacing a liability at current market rates, as opposed to historical purchase prices.

Present Value

The current worth of a future sum of money or stream of cash flows given a specified rate of return, used to assess the value of future cash flows in today's dollars.