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Which of the following is NOT true of common-size income statements? Select one: a. Income statement...

Which of the following is NOT true of common-size income statements?

Select one:

a. Income statement accounts are represented as percentages of net sales.

b. Common-size income statements analysis is a specialized application of ratio analysis.

c. Each income statement item is standardized by dividing it by net sales.

d. Each income statement item is standardized by dividing it by total assets.

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