The type of income statement that reports a series of subtotals such as gross profit, operating income, and income before taxes is a ________ income statement.
A) Single-step.
B) Subtotaled.
C) Multiple-step.
D) Classified.
Answer: C
Accounting MCQ
Accounting
The type of income statement that reports a series of subtotals such as gross profit, operating income, and income before taxes is a ________ income statement.
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