On a multi-step income statement,the operating expenses are subtracted from ________ to arrive at operating income.
A) net sales
B) cost of goods sold
C) net profit
D) gross profit

Question

Quizplus · Accepted Answer

Operating expenses are subtracted from gross profit to arrive at operating income on a multi-step income statement. Gross profit is calculated by subtracting the cost of goods sold from net sales.

On a Multi-Step Income Statement,the Operating Expenses Are Subtracted from ________