In a multiple-step income statement income from operations excludes other revenues and gains and other expenses and losses.

Name: In a multiple-step income statement income from operations excludes other revenues and gains and other expenses and losses.
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Question

Quizplus · Accepted Answer

Income from operations is the result after subtracting only the operating expenses from the total revenues, and it does not include other revenues and gains or other expenses and losses.

In a Multiple-Step Income Statement Income from Operations Excludes Other