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Which of the following is not a true statement about a multiple-step income statement? Select...

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Accounting

Which of the following is not a true statement about a multiple-step income statement?

Select one:

A. There is a section for cost of goods sold.

B. Operating expenses are similar for merchandising and service enterprises.

C. There may be a section for operating assets.

D. There may be a section for nonoperating activities.

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