Which of the following statements is false?
A)The income statement covers a period of time.
B)A loss on the sale of plant and equipment is considered a peripheral activity and is not reported on the income statement.
C)Rent expense is a component of operating income.
D)Interest expense isn't a component of operating income.

Question

Quizplus · Accepted Answer

Peripheral activities include gains or losses on the sale of assets, and are reported on the income statement.

Which of the Following Statements Is False