What is a major advantage of the multiple-step income statement over the single-step income statement?
ContentAccounting Test (ChapterWhat Qualifies As Irregular on the Income Statement?Single Step Income StatementMulti-Step Multi-Entity Income StatementShould your small business use a multi-step income statement? For a more readable format, try the multi-step format, which is the format of choice for larger and multi-department organizations. Smaller businesses may start reporting their