Which One of the Following Is Shown on a Multiple-Step

question 125

Multiple Choice

Which one of the following is shown on a multiple-step but not on a single-step income statement?

• A) Net sales
• B) Net income
• C) Gross profit
• D) Cost of goods sold

---

Definitions:

Preventive Maintenance

Preventive maintenance involves regularly scheduled inspections, service, and repairs of equipment and facilities to prevent unexpected breakdowns and extend their useful life.

Value-Added

The enhancement added to a product or service by a company before offering it to customers, representing the difference between the cost of inputs and the value of outputs.

Lean Principles

A management philosophy focused on minimizing waste within manufacturing systems while simultaneously maximizing productivity.

Service Businesses

Companies that provide intangible products or services, such as consulting, repair, or maintenance.