In a multiple$-$step income statement, income taxes are not classified as operating expenses because:

Select one:

a$.$ The statement is incorrect; income taxes are classified as operating expenses.

b$.$ Not all forms of business organization are subject to income taxes.

c$.$ Income taxes stem from the manner in which assets are financed, not the manner in which they are used in business operations.

d$.$ Income taxes do not contribute to the production of revenue.