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    Introduction to Management Accounting Study Set 1
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    Exam 16: Understanding Corporate Annual Reports: Basic Financial Statements
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    A Multiple Step Income Statement Has Several Measures of Profit
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A Multiple Step Income Statement Has Several Measures of Profit

Question 33

Question 33

Multiple Choice

A multiple step income statement has several measures of profit that do NOT include ________.


A) operating income
B) gross margin
C) income before taxes
D) cost of sales

Correct Answer:

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