Which of the following is not a true statement about a multiple-step income statement?
A: Operating expenses are similar for merchandising and service enterprises.
B: There may be a section for nonoperating activities.
C: There may be a section for operating assets.
D: There is a section for cost of goods sold.
A: Operating expenses are similar for merchandising and service enterprises.
B: There may be a section for nonoperating activities.
C: There may be a section for operating assets.
D: There is a section for cost of goods sold.
举一反三
- The operating expense section of an income statement for a wholesaler would not include A: freight-out. B: utilities expense. C: cost of goods sold. D: insurance expense.
- The income statement reports on operating activities at a point in time.
- 中国大学MOOC: Which of the following would be shown in the other comprehensive income section of the statement of profit or loss and other comprehensive income?
- Cost of goods sold will appear on which financial statement? A: statement of retained earnings B: balance sheet C: statement of cash flows D: income statement
- Translate the following sentence into Chinese."A profit statement is also known as a profit and loss statement, an income statement, an income and expense statement or an operating statement."