In a common size income statement,each item on the income statement is expressed as a percentage of:
A)Net income.
B)Gross margin (gross profit).
C)Total expenses.
D)Sales revenue.

Question

Quizplus · Accepted Answer

In a common size income statement, each item is expressed as a percentage of sales revenue. This helps in comparing the relative contribution of each item to the total sales revenue.

In a Common Size Income Statement,each Item on the Income