In a multiple-step Income Statement, operating expenses are deducted from Gross Profit to give the Profit from Operations.

Name: In a multiple-step Income Statement, operating expenses are deducted from Gross Profit to give the Profit from Operations.
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Question

Quizplus · Accepted Answer

Operating expenses are deducted from Gross Profit on a multiple-step income statement to calculate Profit from Operations, which shows the profitability from regular business activities.

In a Multiple-Step Income Statement, Operating Expenses Are Deducted from Gross