What is usually the base amount in preparing a common-size income statement?
A)Cost of goods sold.
B)Gross profit.
C)Net sales.
D)Profit.

Question

Quizplus · Accepted Answer

Net sales is usually used as the base amount in preparing a common-size income statement, as it is the top line revenue number and represents the total amount of sales revenue earned by the company before deducting any expenses.

What Is Usually the Base Amount in Preparing a Common-Size