A firm uses 2011 as the base year for its financial statements. The common-size, base-year statement for 2012

On a common-size balance sheet all accounts are expressed as a percentage of:    A.  sales for the period. B.  the base year sales. C.  total equity for the base year. D.  total assets for the current year. E.  total assets for the base year.

17.	On a common-base year financial statement, accounts receivables will be expressed relative to which one of the following?    A.  current year sales B.  current year total assets C.  base-year sales D.  base-year total assets E.  base-year accounts receivables

18.

A firm uses 2011 as the base year for its financial statements. The common-size, base-year statement for 2012 has an inventory value of 1.08. This is interpreted to mean that the 2012 inventory is equal to 108 percent of which one of the following?    A.  2011 inventory B.  2011 total assets C.  2012 total assets D.  2011 inventory expressed as a percent of 2011 total assets E.  2012 inventory expressed as a percent of 2012 total assets

19.	Which of the following ratios are measures of a firm's liquidity? I. cash coverage ratio II. interval measure III. debt-equity ratio IV. quick ratio    A.  I and III only B.  II and IV only C.  I, III, and IV only D.  I, II, and III only E.  I, II, III, and IV