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which form of the income statement shows no distinction between operating and non-operating categories?

User Vahid
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Final answer:

The single-step income statement is the form that makes no distinction between operating and non-operating categories, listing all revenues and expenses together to calculate the net income.

Step-by-step explanation:

The form of the income statement that shows no distinction between operating and non-operating categories is known as the single-step income statement. This simplistic approach to income statements provides a clear and straightforward presentation of a company's revenues and expenses. The single-step income statement lists all revenues together and then subtracts all expenses, without categorizing them into operating or non-operating sections, to arrive at the net income or loss.

User Yanhua
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