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Which of the following is FALSE? Evidence-based practice
Multiple-Step
An income statement format that separates operating revenues and expenses from non-operating activities, providing a detailed view of a company's financial performance.
Periodic Inventory System
An inventory accounting system where updates to inventory levels are made on a periodic basis rather than continuously.
Perpetual Inventory System
An accounting method that records inventory purchases and sales in real-time, providing a continuous account of inventory balances.
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