Question

different between common size stament and comparative stament of profit and loss?.
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Answer 1

Common-size financial statements present all items in percentage terms. Balance sheet items are presented as percentages of assets, while income statement items are presented as percentages of sales. Comparative financial statements present financial data for several years side by side.

Answer 2

Answer:

Comparative figures indicate the trend and direction of financial position and operating results. Common Size Statements: These are the statements which indicate the relationship of different items of a financial statement with a common item by expressing each item as a percentage of that common item.

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