What is the Difference Between a Single-step and a Multi-step Income Statement?
After gross profit, the multi-step income statement deducts operating expenses from gross profit to calculate operating income. Operating expenses include costs such as salaries, rent, utilities, marketing, and depreciation that are directly related to running the business. Simpler business structures, such as sole proprietorships and partnerships, have the option of using either the single-step or the multi-step format. Discover the
Continuar leyendo
Comentarios recientes