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32. What is an advantage of using the multiple-step income statement? A) It highlights the components of net income. B) Gross profit is not
32. What is an advantage of using the multiple-step income statement? A) It highlights the components of net income. B) Gross profit is not a separate item. C) It is easier to prepare than the single-step income statement. D) Net income will be higher than net income computed using the single-step income statement.
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Fundamental Accounting Principles
Authors: Larson Kermit, Tilly Jensen
Volume I, 14th Canadian Edition
71051503, 978-1259066511, 1259066517, 978-0071051507
