Multiple-step income statements:
A)separate core results from peripheral results.
B)includes one subtotal for revenues and one for expenses.
C)exclude certain significant items from net income.
D)only report core results.

Question

Quizplus · Accepted Answer

A multistep income statement presents important subtotals,such as gross profit,to help distinguish core operating results from other,less significant items that affect net income.

Multiple-Step Income Statements