What Is an Advantage of Using the Multiple-Step Income Statement

question 155

Multiple Choice

What is an advantage of using the multiple-step income statement?

• A)It highlights the components of net income.
• B)Gross profit is not a separate item.
• C)It is easier to prepare than the single-step income statement.
• D)Net income will be higher than net income computed using the single-step income statement.

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Definitions:

Health-related Behavior

Actions individuals take that affect their health, either positively or negatively, such as diet, exercise, smoking, and alcohol consumption.

Epidemic

A widespread occurrence of an infectious disease in a community at a particular time, significantly exceeding normal expectancy.

Community

A group of people living in the same place or having a particular characteristic in common.

Normal Expectancy

The statistical average number of years an individual is expected to live based on demographic factors like their current age and sex.