CFA Practice Question

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CFA Practice Question

Sales in a common-size income statement are usually stated as ______.

A. 100%
B. a percentage of net income
C. a percentage of gross profit
Correct Answer: A

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.
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