A gain on disposal of plant assets and interest expense are reported under other revenues and gains in a multiple-step income statement.

Name: A gain on disposal of plant assets and interest expense are reported under other revenues and gains in a multiple-step income statement.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A gain on disposal of plant assets is reported under other revenues and gains, while interest expense is reported under other expenses and losses.

A Gain on Disposal of Plant Assets and Interest Expense