Ina single-step income statement: a. gross profit is reported. b. cost of goods sold is not reported.
Question:
Ina single-step income statement:
a. gross profit is reported.
b. cost of goods sold is not reported.
c. sales revenues and other revenues and gains are reported in the revenues section of the income statement.
d. operating income is separately reported.
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Related Book For 
Financial Accounting
ISBN: 9780471169208
2nd Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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