Which of the Following Statements Concerning the Multiple-Step Income Statement

question 139

Multiple Choice

Which of the following statements concerning the multiple-step income statement is false?

• A)The multiple-step income statement provides a subtotal of Income before Income Tax Expense.
• B)Income from Operations is the amount of revenues minus expenses from the company's main business activities.
• C)Any revenue and/or expense from activities other than the company's main business are peripheral results and are included in Income from Operations.
• D)Income before Income Tax Expense and Income from Operations are different if there are any peripheral revenues and expenses.

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Definitions:

Extremely Tired

A state of profound physical or mental fatigue often requiring rest or sleep for recovery.

More Alert

A state of being very attentive and responsive to surroundings or occurrences.

Medication

Substances used to treat or prevent disease or relieve pain, prescribed or available over-the-counter.

Extremely Restless

Describes a state of being unable to stay still or calm due to anxiety or boredom.