Question: What is a key difference between a single-step and a multi-step income statement? 2 points The single-step income statement reports gross profit, while the multi-step

What is a key difference between a single-step and a multi-step income statement? 2 points The single-step income statement reports gross profit, while the multi-step does not. The single-step uses one subtraction for net income, while the multi-step separates operating and non-operating activities. The multi-step includes non-operating expenses only

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