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The income statement is an integral part of all financial statements presentations. There are two ways of creating the income statement: the single-step and the
The income statement is an integral part of all financial statements presentations. There are two ways of creating the income statement: the single-step and the multiple-step methods. What are the merits of each and which do you prefer as 1) the creator of the income statement and 2) the user of the income statement? Be sure to indicate and explain why you chose each answer. Should the creator's and user's needs be the same or different?
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