When looking at a common size balance sheet, everything is considered as a perce

Question

When looking at a common size balance sheet, everything is considered as a percent of:

Select one:

a. Sales for the period

b. The base year sales

c. Total equity for the base year

d. Total assets for the current year

e. Total assets for the base year

When looking at a common size income statement, everything is considered as a percent of:

Select one:

a. Total assets

b. Total equity

c. Net income

d. Taxable income

e. Sales

If we were to increase _________, the company’s quick ratio will increase without affecting its cash ratio

Select one:

a. Accounts payable

b. Cash

c. Inventory

d. Accounts receivable

e. Fixed assets

Explanation / Answer

Answer:

When looking at a common size balance sheet, everything is considered as a percent of:

d. Total assets for the current year

When looking at a common size income statement, everything is considered as a percent of:

e. Sales

If we were to increase _________, the company’s quick ratio will increase without affecting its

d. Accounts receivable

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