An Advantage of the Single-Step Income Statement Over the Multiple-Step

question 63

Multiple Choice

An advantage of the single-step income statement over the multiple-step form is

• A)the amount of information it provides.
• B)its comprehensiveness.
• C)its simplicity.
• D)its use in computing ratios.

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Definitions:

Substitute Object

An alternative that replaces or serves in place of an original item or concept.

Reaction Formation

A psychological defense mechanism where an individual unconsciously replaces an unacceptable or threatening impulse with an exaggerated version of its opposite.

Overprotective

Describes behaviors that excessively shield others, particularly children, from potential harm, often limiting their experiences and growth.

Sublimation

A psychological process where socially unacceptable impulses or idealizations are consciously transformed into socially acceptable actions or behavior, possibly resulting in a long-term conversion of the initial impulse.