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Friction between the moving tide wave and the turning Earth acts to
Operating Expenses
Costs associated with the day-to-day operations of a business, such as rent, utilities, and salaries, excluding direct production costs.
Revenues
The sum of revenue obtained through the sales of products or services that are central to a company's main activities.
Multiple-Step
An income statement format that separates operating revenues and expenses from nonoperating revenues, expenses, and gains and losses.
Single-Step
An income statement format that consolidates all revenues and gains together and all expenses and losses together, resulting in a single step to determine net income.
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