Common Size Income Statements Represent All Figures on the Income

question 130

Multiple Choice

Common size income statements represent all figures on the income statement

• A) as a percentage change from the previous year.
• B) percentages of the current year's sales.
• C) as a percentage of some benchmark figure.
• D) as a percentage of total assets.

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Definitions:

Competitiveness

The quality of being determined to win or be more successful than others.

Ability

The competence or skill to do something effectively or achieve a desired result.

Aptitudes

Refers to natural talents or abilities that enable individuals to perform certain tasks effectively.

Competencies

A combination of knowledge, skills, abilities, and other characteristics that enable individuals to perform a job effectively.