12) Common-size financial statements recast each statement item as: A) a percentage using industry averages for the "base number." B) a percentage using a base year number for each line item. C) a percentage of some "base number" on the financial statement in question. D) a percentage of the "bottom line." 13) Trend statements help the user A) determine the reason(s) for changes over time in each financial statement line item. B) spot relationships among financial statement items. C) spot changes over time in each financial statement line item. D) identify variations between companies in financial statement line items. Trend statements are better than common size statements at indicating which of the 14) following? 15) 16) A) stability. B) monetary changes. C) profitability. D) growth and decline. In a common size cash flow statement, all items are expressed as a percentage of A) sales. B) total assets. C) net income. D) total equity. Advanced technology and performance capabilities, consistent quality, availability in multiple colors and sizes, prompt delivery, technical support services, customer financing, distribution channels, or some other feature of importance to customers are examples of: A) competitive advantage. B) differentiation. C) product leadership. D) low-cost leadership