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Question 1 According to the book, page 104, the format used in showing the income statement and balance sheet is a "multiple step" format. The multiple step format is very common because it makes for clean balance and income sheets. With a multiple step format you break down each category into sub-divisions which then give you subtotals making it easier to calculate the final numbers...
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Question 1 According to the book, page 104, the format used in showing the income statement and balance sheet is a "multiple step" format. The multiple step format is very common because it makes for clean balance and income sheets. With a multiple step format you break down each category into sub-divisions which then give you subtotals making it easier to calculate the final numbers...
Showed next 250 characters

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