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An income statement listing each revenue and expense account separately is called:
AMulti-signal
BMulti-step
CMulti-scale
DMulti-sector
Answer & Solution
Correct answer: B. Multi-step
1. It suits companies with more complex operations.
2. It carries far more detail than the alternative.
3. That format is multi-step.
_Source: OpenStax Principles of Financial Accounting, Chapter 6, Merchandising Transactions._
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