In a common size income statement, each item on the income statement is expressed as a percentage of:_______.A. Net income.B. Gross margin (gross profit).C. Total expenses.D. Sa…

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asked Sep 6, 2021 200k views

1 Answer

Lostyzd · Answer 1 · 2021-09-12T13:02:22+0000

Answer:

D. Sales revenue.

Step-by-step explanation:

An income statement can be defined as a document that is used to record the amount of money entering into a business.

In a common size income statement, each item on the income statement is expressed as a percentage of sales revenue.