The single-step format of the income statement first lists all the revenues and gains included in income from continuing operations.

Name: The single-step format of the income statement first lists all the revenues and gains included in income from continuing operations.
Brand: Quizplus
Rating: 5.0 (35 reviews)

Question

Quizplus · Accepted Answer

The single-step format of the income statement lists all the revenues and gains included in income from continuing operations in one section before deducting all expenses and losses in another section to arrive at net income.

The Single-Step Format of the Income Statement First Lists All