Multiple-Step vs Single-Step Income Statements
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What are some advantages and disadvantages that a multiple-step income statement has verses a single-step statement? How might managers use a multi-step income statement in decision making?
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Solution Summary
This solution provides an overview of the advantages and drawbacks of the multiple-step income statement as compared to the single-step statement.
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In single statement all data classified in to two groups (1) Revenues (2) Expenses
Revenue group includes operating as well as Non-operating revenues.
Expenses group includes cost of goods sold, operating expenses and Non-operating expenses such as interest charges etc..
Income before tax represents the difference ...
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