Income statement and a comprehensive income statement

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Reference no: EM13967494

1. create one (1) argument to support the use of a two-step approach over the single-step approach when reporting comprehensive income. Support your response with specific examples that illustrate why the two-step approach is more beneficial than the single-step approach.

2. Differentiate between a multi-step income statement and a comprehensive income statement, and suggest which income statement is more useful to investors and creditors. Provide a rationale for your suggestion.

Reference no: EM13967494

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