Answer:
The correct answer is letter "C": multiple-step.
Explanation:
A Multiple-Step Income Statement is a detailed summary divided into two main sections: the operating and non-operating items. The operating items include all the accounts related to gross profit, sales, and administrative expenses. In the non-operating section, all extraordinary expenses and return accounts are recorded. Its counterpart, the Single-Step Income Statement, only portraits revenue, expenses, and the net income.
