Review the multistep income statement presented in Exhibits 5-3 and 5-4. In your group, discuss how this
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Review the multistep income statement presented in Exhibits 5-3 and 5-4. In your group, discuss how this form of the income statement meets each of these qualitative characteristics of accounting information: understandability, usefulness, relevance, and reliability. Be prepared to present your conclusions in class.
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