Multiple Choice
Component percentages indicate the relative size of each item included in a total.Which of the following statements is true?
A) Income statement items are expressed as a percentage of net income,while balance sheet items are expressed as a percentage of total assets.
B) Income statement items are expressed as a percentage of net sales,while balance sheet items are expressed as a percentage of total assets.
C) Income statement items are expressed as a percentage of net income,while balance sheet items are expressed as a percentage of net assets.
D) Both income statement and balance sheet items are expressed as a percentage of net assets.
Correct Answer:
Verified
Correct Answer:
Verified
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