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There are two broad formats of preparing the income statement: single-step and multiple-step. What is the...

There are two broad formats of preparing the income statement: single-step and multiple-step. What is the main distinguishing feature between the two? Which format is better in your opinion? Do the accounting rules require a certain format? More importantly, which format is predominantly used by most companies?

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ekkarill92 answered 1 year ago
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