Final answer:
A multistep income statement is a financial statement used in accounting to present a company's revenue and expenses in a detailed format. In step 9, aggregate expenditure is calculated by adding consumption, investment, government spending, exports, and subtracting imports.
Step-by-step explanation:
A multistep income statement is a financial statement used in accounting to present a company's revenue and expenses in a detailed format. It consists of multiple steps that break down different components of the income statement to provide a clearer picture of a company's financial performance.
In step 9, aggregate expenditure is calculated by adding consumption (C), investment (I), government spending (G), exports (X), and subtracting imports (I). This step helps determine the total spending on goods and services in the economy at different levels of national income.
For example, when calculating aggregate expenditure, you add up the consumption expenditure, investment expenditure, government spending, and exports. Then, subtract the imports to get the final value.