A primary advantage of the multiple-step format of the income statement over the single-step format is that the multiple-step format: Multiple Choice a. classifies expenses by function. b. results in a higher amount of net income. c. separately lists income tax expense. d. lists revenues and expenses in order of their dollar amount.
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Home » Business » A primary advantage of the multiple-step format of the income statement over the single-step format is that the multiple-step format: Multiple Choice a. classifies expenses by function. b. results in a higher amount of net income. c.