How is a common-size income statement prepared?

Select one:

a. Each income statement item is expressed as a percentage of total assets.b. Each income statement item is expressed as a percentage of net sales.c. Each income statement item is expressed as a percentage of net income.d. Each income statement item is expressed as a percentage of cash flow.

What is amortization?

Select one:

a. The process used to allocate the cost of natural resources.b. The process used to allocate the cost of tangible fixed assets.c. The process used to allocate the cost of capital leases, leasehold improvements and intangible assets.d. The process used to allocate the cost of oil, gas, minerals and standing timber.