Listed below are five items or sections that may be found in a multiple-step income statement. Place the numbers 1 through 5 in to indicate the sequence of these items or sections in the income statement (with 1 assigned to the first item or section, and so on).
-Gross profit
A) 5
B) 6
C) 7
D) 8
E) 9

Question

Quizplus · Accepted Answer

Gross profit is typically the first line item on a multiple-step income statement.

Listed Below Are Five Items or Sections That May Be