Why should I choose AnalystNotes?
Simply put: AnalystNotes offers the best value and the best product available to help you pass your exams.
Basic Question 2 of 11
Sales in a common-size income statement are usually stated as ______.
B. a percentage of net income
C. a percentage of gross profit
A. 100%
B. a percentage of net income
C. a percentage of gross profit
User Contributed Comments 8
| User | Comment |
|---|---|
| Bibhu | Tricky question. Please look into the notes for the explanations. |
| accounting | i think 100% is saying as a percentage |
| o123 | accounting...common size I/S is stated as a percentage of sales... sale are 100% of sales! |
| surob | I wish all questions were simle as this one. |
| bahodir | you wish |
| eb2568 | surob: yes, i wish they were all as easy as well! however, if that was the case, the cfa designation would hold very little merit and thus we all would probably be wasting our time working towards it. but yes, it would be a nice surprise on test day! |
| copus | sales = revenue. Top of the line on the income statement. Nothing comes before it and therefore the answer has to be 100%. |
| thegeneral101 | its one of those thats so simple its hard...makes you double check before you answer. |
I just wanted to share the good news that I passed CFA Level I!!! Thank you for your help - I think the online question bank helped cut the clutter and made a positive difference.
Edward Liu
Learning Outcome Statements
describe tools and techniques used in financial analysis, including their uses and limitations;
CFA® 2024 Level I Curriculum, Volume 3, Module 21.