Home » General Knowledge » Indian Economy

The single-step income statement emphasizes

the various components of income from continuing operations
extraordinary items and accounting changes more than these are emphasized in the multiple-step income statement
total revenues and total expenses
the gross profit figure

Correct Answer: total revenues and total expenses

Explanation:

1. total revenues and total expenses.

2. Revenues

3. Expenses

4. Net income

The primary advantage of the single step fromat lies in its simple presentation and the absence of any implication that one type of revenue or expense item has priority over another.

← Previous Question Next Question→

More Questions from Indian Economy

Which of the following is / are fund managers for National Pension System (NPS) in 2017 ?
The First Five Year Plan was based on ___________.
The purchase of shares and bonds of Indian companies by Foreign Institutional Investors is called ?
Which country has recently become fifth largest military spender ?
Taxes cannot be levied by the union government in India -
In India ,Hindu Rate of growth is associated with which of the following
An objective of the National Food Security Mission is to increase the production of certain crops through area expansion and productivity enhancement in a sustainable manner in the identified districts of the country. What are those crops?
What is the rank of India in World Economic Forum’s Global Human Capital Index (GHCI) 2017 ?
According to Nomura's Report, India’s GDP growth rate is expected to be around _________ in the financial year 2017-18.
The State having the highest density of population is

Discussion & Comments

No comments yet. Be the first to comment!

Join Discussion