Question: A common-size financial statement is one in which each number is expressed as a percentage of some base number for the firm (such as total

A common-size financial statement is one in which each number is expressed

as a percentage of some base number for the firm (such as total assets or revenues)

as a percentage of an industry average (such as rate of return)

as a percentage of a stock market average (such as market capitalization)

as a percentage of a national average (such as per capita GDP)

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