The list below contains several items that appear on a multiple-step income statement.
1.other income and expense
2.income before income taxes
3.net income
4.operating expenses
5.gross margin
6.net sales
7.income from operations
Select the choice that lists the items in the order they would appear on a multiple-step income statement.
A) 6, 5, 4, 7, 1, 2, 3
B) 7, 6, 1, 4, 2, 3, 5
C) 6, 5, 4, 1, 7, 2, 3
D) 6, 7, 4, 1, 2, 3, 5
Correct Answer:
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Q124: The following balances were taken from the
Q125: On a multiple-step income statement, operating income
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