Question

what is the differences and similarities between single step and multi-step?​

Answer 1

✨ᴀ sɪɴɢʟᴇ-sᴛᴇᴘ ɪɴᴄᴏᴍᴇ sᴛᴀᴛᴇᴍᴇɴᴛ ɢɪᴠᴇs ᴀ sɪᴍᴘʟᴇ ᴀᴄᴄᴏᴜɴᴛɪɴɢ ᴏғ ᴀ ʙᴜsɪɴᴇss's ɴᴇᴛ ɪɴᴄᴏᴍᴇ, ᴡʜᴇʀᴇᴀs ᴀ ᴍᴜʟᴛɪ-sᴛᴇᴘ ɪɴᴄᴏᴍᴇ sᴛᴀᴛᴇᴍᴇɴᴛ ғᴏʟʟᴏᴡs ᴀ ᴛʜʀᴇᴇ-sᴛᴇᴘ ᴘʀᴏᴄᴇss ᴛᴏ ᴄᴀʟᴄᴜʟᴀᴛᴇ ɴᴇᴛ ɪɴᴄᴏᴍᴇ, sᴇᴘᴀʀᴀᴛɪɴɢ ᴏᴘᴇʀᴀᴛɪᴏɴᴀʟ ғʀᴏᴍ ɴᴏɴ-ᴏᴘᴇʀᴀᴛɪᴏɴᴀʟ ʀᴇᴠᴇɴᴜᴇs ᴀɴᴅ ᴇxᴘᴇɴsᴇs.❤

Answer 2

Answer:

A single-step income statement gives a simple accounting of a business's net income, whereas a multi-step income statement follows a three-step process to calculate net income, separating operational from non-operational revenues and expenses

Explanation:

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