The List Below Contains Several Items That Appear on a Multiple-Step

question 117

Multiple Choice

The list below contains several items that appear on a multiple-step income statement. Select the choice that lists the items in the order they would appear on a multiple-step income statement.

• A)6, 5, 4, 7, 1, 2, 3
• B)7, 6, 1, 4, 2, 3, 5
• C)6, 5, 4, 1, 7, 2, 3
• D)6, 7, 4, 1, 2, 3, 5

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Definitions:

Federal Trade Commission Act

A federal law established in 1914 that created the Federal Trade Commission (FTC) and provided it with the power to prevent unfair competition methods and unfair or deceptive acts affecting commerce.

Food and Drug Administration

A federal agency of the United States responsible for protecting and promoting public health through the control and supervision of food safety, tobacco products, dietary supplements, prescription and over-the-counter medications, vaccines, biopharmaceuticals, blood transfusions, medical devices, electromagnetic radiation emitting devices, and veterinary products.

Water Quality

A measure of the condition of water, based on chemical, physical, and biological characteristics, to support its intended use.

FDA Approved

A designation that indicates a product has been tested and approved by the U.S. Food and Drug Administration as safe and effective for its intended use.