If comparative balance sheets indicate no notes receivable onthe first, or base,

Question

If comparative balance sheets indicate no notes receivable onthe first, or base, date and a $50,000 note receivable on the laterdate, the increase of $50,000:
a. can be stated as 0% b. can be stated as 100% increase c. can be stated as 500% increase d. cannot be stated as a percentage If comparative balance sheets indicate no notes receivable onthe first, or base, date and a $50,000 note receivable on the laterdate, the increase of $50,000:
a. can be stated as 0% b. can be stated as 100% increase c. can be stated as 500% increase d. cannot be stated as a percentage

Explanation / Answer

B. can be stated as 100% increase. This is a horizontal analysis of financial statement. base year is0 and the later year has a 50,000 is 100% increase.

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