Interest Expense is a cost incurred when borrowing money, so choice A is correct. It is generally included in the "Other Expenses" category on the income statement, making choice B correct. Finally, interest expense is a type of expense account and has a normal debit balance, so choice C is also correct. Therefore, all three choices are correct, making option D the best answer.

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Interest Expense Is

Question 87

Multiple Choice

Interest Expense is

A) a cost of borrowing money.
B) included in the "Other Expenses" on the income statement.
C) has a normal debit balance.
D) All of the above are correct.

Correct Answer: