Which of the following is NOT a subsection in a multiple-step income statement?

Question

Quizplus · Accepted Answer

Purchase discounts would typically be included in the cost of goods sold section or as a separate line item in the expense section of the income statement, rather than as a separate subsection in the multiple-step format. Gross profit, operating income, and income before taxes are typically included as separate subsections in the multiple-step income statement.

Which of the Following Is NOT a Subsection in a Multiple-Step