When Preparing Common-Size Statements, Items on the Balance Sheet Are

When preparing common-size statements, items on the balance sheet are generally stated as a percentage of _________________ and items on the income statement are generally stated as a percentage of __________________

A) Total Assets; Net Income
B) Total Assets; Revenue
C) Total Owner's equity; Revenue
D) Net income; Total (Long-term debt + Owner's equity)

Correct Answer:

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