Which of the Following Statements About Multiple-Step Income Statements Is

question 96

Multiple Choice

Which of the following statements about multiple-step income statements is FALSE?

• A)A multiple-step income statement has a subtotal for gross profit and operating profit.
• B)A multiple-step income statement groups all the expenses together.
• C)A multiple-step income statement has different measures of profits.
• D)A multiple-step income statement has a list of nonoperating revenues and expenses.

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