Which of the Following Items Is Not Shown on a Single-Step

question 114

Multiple Choice

Which of the following items is not shown on a single-step income statement?

• A)Cost of goods sold.
• B)Interest expense.
• C)Selling expenses.
• D)Gross margin.

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Definitions:

Market Economies

Economic systems where supply and demand from consumers drive the production, allocation, and distribution of resources.

Privatisation

The selling of state‐owned enterprises into private ownership.

State-Owned Enterprises

Organizations that are owned and operated by the government and play a role in the delivery of public services or the production of goods.

Private Ownership

Ownership of assets by individuals or corporations rather than by the state or public entities.