A Statement That Expresses Each Account as a Percentage of Sales

question 274

Multiple Choice

A statement that expresses each account as a percentage of sales is called a:

• A) Common-size statement of financial position.
• B) Common-size statement of comprehensive income.
• C) Common-size statement of cash flows.
• D) Ratio statement of comprehensive income.
• E) Statement of ratio analysis.

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Definitions:

Key

Essential or of critical importance in a particular context.

Budget

An estimation of income and expenditure for a set period of time, often used to plan for financial resources in businesses or personal finance.

Areas Needed

Specific fields or expertise required to achieve certain goals or fulfill particular jobs.

Investment

The allocation of resources, typically money, with the expectation of generating an income or profit.