How is a common-size income statement prepared? a. Each income ...

[jazziefee]

How is a common-size income statement prepared?
 
  a. Each income statement item is expressed as a percentage of total assets.
  b. Each income statement item is expressed as a percentage of net sales.
  c. Each income statement item is expressed as a percentage of net income.
  d. Each income statement item is expressed as a percentage of cash flow.

Question 2

The person to whom a check is drawn is referred to as the payee.
 a. True
   b. False
   Indicate whether the statement is true or false

[jharrington11]

Answer to Question 1

c

Answer to Question 2

True