Question 6 2.5 pts The term Operating Income or Income from Operations is: A subtotal on the statement of retained earnings A subtotal on a multiple step income statement A subtotal on a classified balance sheet Equivalent to Net Income Question 7 2.5 pts Which of the following best describes the proper presentation of accounts receivable in the financial statements? Accounts Receivable is a Current Asset on the Balance Sheet while the Allowance for Doubtful Accounts is a Liability on the Balance Sheet Accounts Receivable less the Allowance for Doubtful accounts is reported as a Current Asset on the Balance Sheet Accounts Receivable less Bad Debt Expense is reported as a Current Asset on the Balance Sheet Accounts Receivable plus the Allowance for Doubtful Accounts is reported as a Current Asset on the Balance Sheet