Examlex
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Outgoing Merchandise
Outgoing merchandise refers to inventory that has been sold and is in the process of being shipped to the customer.
Multiple-Step
The multiple-step income statement is a detailed financial report that separates operating revenue and expenses from non-operating ones to highlight core business activities.
Single-Step
A method of preparing the income statement where all revenues are summarized together and all expenses are summarized together, with a single step to determine net income.
Income Statement
A financial report that shows the company's revenues, expenses, and profits over a specific period of time.
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