Reading 32: Understanding the Income Statement - LOS j ～ Q1

答案和详解如下：

1.Common size income statements express all income statement items as a percentage of:

A)   sales.

B)   assets.

C)   net income.

D)   industry averages.

The correct answer was A)

Common size income statements express all income statement items as a percentage of sales. Note that common size balance sheets express all balance sheet accounts as a percentage of total assets.