In the process of preparing department income statements,a company uses there are three steps before the statements can be completed.Describe those steps.

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Priest Jennings · Accepted Answer

Final Answer :

Step 1-revenues and expenses are accumulated by department.
Step 2-indirect expenses are allocated across departments.
Step 3-service department expenses are allocated to operating departments.

In the process of preparing department income statements,a company uses there are three steps before the statements can be completed.Describe those steps.

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