Accounting – Discussion Question

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Why would a company use a single-step vs. a multi-step income statement? For what type of business is a multi-step income statement most appropriate?
What situation might explain why a company’s gross profit percentage went down from 60% to 40% from one year to the next?

 

 

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This is for a discussion post.  Only need it to be a paragraph long.  Short and to the point.

 

DUE 5/21

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