A company's comparative balance sheet show total assets of $990,000 and $900,000,for the current and prior years,respectively.The percentage change to be reported in the horizontal analysis is an increase of:
A) 10%.
B) 9%.
C) 5%.
D) 4%.

Question

Quizplus · Accepted Answer

The percentage change is calculated as ((Current Year - Prior Year) / Prior Year) * 100 = (($990,000 - $900,000) / $900,000) * 100 = 10%.

A Company's Comparative Balance Sheet Show Total Assets of $990,000