Answered: When using vertical analysis, we…

When using vertical analysis, we express income statement accounts as a percentage of a. Net income. b. Sales. c. Gross profit. d. Total assets.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 11MCQ

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Question

When using vertical analysis, we express income statement accounts as a percentage of
a. Net income.
b. Sales.
c. Gross profit.
d. Total assets.

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