Income from operations appears on
A) both a multiple-step and a single-step income statement.
B) neither a multiple-step nor a single-step income statement.
C) a single-step income statement.
D) a multiple-step income statement.

Question

Quizplus · Accepted Answer

Income from operations is calculated by subtracting the cost of goods sold and operating expenses from net sales on a multiple-step income statement. Therefore, income from operations appears only on a multiple-step income statement.

Income from Operations Appears on