Which of the following is not a true statement about a multiple-step income statement?
A) With the exception of Delivery Expense, operating expenses are similar for merchandising and service enterprises.
B) There may be a section for non-operating activities such as interest revenue and gains on the sale of assets other than inventory.
C) There may be a section for operating assets.
D) It will report the calculation of gross profit.
Correct Answer:
Verified
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