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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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    In a Multiple-Step Income Statement, Operating Expenses Are Subtracted from Gross
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In a Multiple-Step Income Statement, Operating Expenses Are Subtracted from Gross

Question 55

Question 55

Multiple Choice

In a multiple-step income statement, operating expenses are subtracted from gross profit to compute


A) income from operations.
B) net income.
C) other income.
D) net loss.

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