Question: A common size income statement: Multiple Choice expresses items as a percentage of net sales. uses the same dollar amount of net sales for each

A common size income statement:

Multiple Choice

  • expresses items as a percentage of net sales.
  • uses the same dollar amount of net sales for each year.
  • Incorrect
  • makes comparisons between years more difficult.
  • is useful in estimating the impact of inflation.

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