Which of the following would appear on a multiple-step income statement but not on a single-step income statement?
A)Net income
B)Total expenses
C)Total revenues
D)Income before income taxes

Question

Quizplus · Accepted Answer

Income before income taxes would appear on a multiple-step income statement as it calculates the difference between the company's total revenues and total expenses before accounting for income taxes. A single-step income statement only presents total revenues and total expenses, therefore this item would not appear on it.

Which of the Following Would Appear on a Multiple-Step Income