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a multiple-step income statement reports multiple levels of

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abiolataiwo2015

A multiple-step income statement should reports multiple levels of income or multiple levels of  profitability.

Multi-step income statement  help to show a company or organization income statement in multiple step  and the detail report of how  net income was generated such as:

•Revenues and expenses

• Gross profit

• Operating income

• Income from operation

•Income from continuing operations

•Net Income  

Multi-step income statement is important for companies or organization as this will help to show whether they are making profit or loss.

Inconclusion a multiple-step income statement should reports multiple levels of income or multiple levels of profitability.

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https://brainly.com/question/14308954

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