Which of the following statements about a multiple-step income statement is not true?
A) Net income plus income tax expense is equal to income before income taxes.
B) Depreciation would be considered an operating expense.
C) Income before income taxes less non-operating expenses,plus non-operating revenues is equal to income from operations.
D) Net income plus income tax expense plus non-operating expenses less non-operating revenues equals income from operations.
Correct Answer:
Verified
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