iitanox8682 iitanox8682
  • 01-04-2020
  • Business
contestada

Interest expense would be classified on a multiple-step income statement under the heading

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Zviko
Zviko Zviko
  • 03-04-2020

Answer:

Non-Operating Expenses

Explanation:

The multiple-step income statement reports separately Incomes derived from Primary Activities of the Company commonly known as Operating Income and Incomes derived from Secondary activities of the Company known as Non-Operating Income.

Interest expense is part of secondary activities of the company and thus classified under Non-Operating Expenses.

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