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Multi-step Income Statement
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Multi-step Income Statement
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4. Merchandising Operations / Multi-step Income Statement / Problem 2
Problem 2
How do non-operating activities affect the calculation of income before income taxes?
A
They are added or subtracted from income from operations to determine income before income taxes.
B
They do not affect the calculation of income before income taxes.
C
They are included in the calculation of gross profit.
D
They are deducted after income tax expense.
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