Final answer:
True, the gross margin does appear on the multistep income statement. It is a key metric that shows the profitability of a company's core business activities before overhead costs.
Step-by-step explanation:
The statement that the gross margin appears on the multistep income statement is True. The multistep income statement provides a detailed view of a company's financial performance, breaking down revenue and expenses into several categories. The gross margin is calculated by deducting the cost of goods sold (COGS) from net sales, showing the profitability of the core business activities before overhead costs are taken into account.