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    College Accounting Study Set 5
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    Exam 15: Financial Statements and Year-End Accounting for a Merchandising Business
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    The Single-Step Form of Income Statement Lists All Revenue Items
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The Single-Step Form of Income Statement Lists All Revenue Items

Question 64

Question 64

True/False

The single-step form of income statement lists all revenue items and their totals first, followed by all expense items and their totals, to produce a difference that is either net income or net loss.

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