« previous next »

Author Question: The single-step income statement is easier to prepare, but a criticism of this format is that gross ... (Read 34 times)

folubunmi

  • Hero Member
  • *****
  • Posts: 524
on: Jul 5, 2018
The single-step income statement is easier to prepare, but a criticism of this format is that gross profit and income from operations are not readily available.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

Which type of business organization exposes its owner(s) to unlimited liability?
 
  A) corporation
  B) partnership
  C) sole proprietorship
  D) Two of these are correct.


Zebsrer

  • Sr. Member
  • ****
  • Posts: 284
Reply #1 on: Jul 5, 2018
Answer to Question 1

True

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Bacterial colonies, each derived from a single cell Bacterial colonies, each derived from a single c Bacterial colonies, each derived from a single cell Bacterial colonies, each derived from a single c
Race-Ethnicity and Income Extremes Race-Ethnicity and Income Extremes
Six-Step Process for Goal-Oriented Planning Six-Step Process for Goal-Oriented Planning
The RecA strand exchange reaction as shown from single-molecule studies The RecA strand exchange reaction as shown from single-molecule studies
The Step Pyramid And Sham Buildings, Funerary Complex Of Djoser The Step Pyramid And Sham Buildings, Funerary Complex Of Djoser
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
Video: Contraction cycle of a sarcomere

For a complete list of videos, visit our video library