Which of the following is shown on a multi-step income statement but not on a single-step income statement?
A) gross profit
B) net sales revenue
C) cost of goods sold
D) net income

Question

Quizplus · Accepted Answer

Gross profit is only shown on a multi-step income statement, as it involves subtracting the cost of goods sold from net sales revenue. In contrast, a single-step income statement simply shows total revenue minus total expenses, without breaking down the different components. The other options (B, C, and D) are all typically shown on both types of income statements.

Which of the Following Is Shown on a Multi-Step Income