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This paper discusses the nature and character of General Motors financial statements as found in its annual financial statement (10-K), released to its shareholders and the general public. Particular attention is paid to the income statements, cash flows, and accounting policies. Also, the type of income statement, either single-step or multi-step, is identified.
From the Paper:"Income statements can either be single-step or multi-step and the choice of which is used is dependent on the type of business and the business model employed. A single-step income statement tends to place all revenues in one sum as well as all expenses together in another sum. Single-step income statements are most commonly associated with companies or business models built around a service or an intangible product of some kind. Multi-step income statements normally contain more than one sub-total under the sales revenue column such as a cost of goods sold (COGS) figure so that a more accurate picture of revenue can be deduced from the figures."
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General Motors (2005, December 01) Retrieved June 18, 2019, from https://www.academon.com/essay/general-motors-86796/
"General Motors" 01 December 2005. Web. 18 June. 2019. <https://www.academon.com/essay/general-motors-86796/>