All of the following captions or subtotals are typical of a multiple-step income statement, except for:
A) Net sales.
B) Gross profit.
C) Total costs and expenses.
D) Operating income.

Question

Quizplus · Accepted Answer

"Total costs and expenses" is not a typical caption or subtotal in a multiple-step income statement, which usually includes net sales, gross profit, and operating income.

All of the Following Captions or Subtotals Are Typical of a Multiple-Step