A ________ Income Statement Includes Cost of Goods Sold as Another

question 254

Short Answer

A ________ income statement includes cost of goods sold as another expense and shows only one subtotal for total expenses.

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Definitions:

Ratio

A mathematical ratio defining how often one number is included in or includes another.

Unknown Quantity

A variable or value within a mathematical problem or equation that has not yet been determined or identified.

Proportion

A constituent, allotment, or figure regarded in context with its aggregate.

Unknown Quantity

A variable or value in mathematics and algebra that is not known or specified.