Component Percentages Indicate the Relative Size of Each Item Included

question 74

Multiple Choice

Component percentages indicate the relative size of each item included in a total.Which of the following statements is true?

• A)Income statement items are expressed as a percentage of net income,while balance sheet items are expressed as a percentage of total assets.
• B)Income statement items are expressed as a percentage of net sales,while balance sheet items are expressed as a percentage of total assets.
• C)Income statement items are expressed as a percentage of net income,while balance sheet items are expressed as a percentage of net assets.
• D)Both income statement and balance sheet items are expressed as a percentage of net assets.