In a single-step income statement,all revenue items are listed,then all expense items are combined and deducted from total revenue.

Name: In a single-step income statement,all revenue items are listed,then all expense items are combined and deducted from total revenue.
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Question

Quizplus · Accepted Answer

In a single-step income statement, revenues and gains are listed first, followed by all expenses and losses, which are then subtracted from the total revenues in one step to determine the net income or loss.

In a Single-Step Income Statement,all Revenue Items Are Listed,then All