Multiple Choice
Many ratios require an average be used for the balance sheet numbers because the
A) income statement refers to a point in time.
B) accountants may have made errors in the financial statements.
C) balance sheet numbers are a point in time and are being compared to an income statement number that covers a period of time.
D) income statement numbers represent a point in time and are being compared to a balance sheet number that covers a period of time.
Correct Answer:
Verified
Correct Answer:
Verified
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