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Describe the three line items of the multistep income statement.

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ACC 240 Topic 2 Discussions GCU

ACC 240 Topic 2 DQ 1

Describe the three line items of the multistep income statement. Explain why it would be important for a company to break out its income in this manner.

ACC 240 Topic 2 DQ 2

Describe what a classified balance sheet is. Also, explain why a classified balance sheet might be more advantageous to financial statement readers than the simple balance sheet.

 

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