Indicate which one of the following would not appear on both a single-step income statement and a multiple-step income statement. A)Gross profit B)Operating expenses C)Sales revenue D)Cost of goods sold

Question

Quizplus · Accepted Answer

Gross profit does not appear on a single-step income statement, as it combines all revenues and expenses without separating them into categories like gross profit.

Indicate Which One of the Following Would not Appear on Both