Interest expense on a mortgage would be classified on a multistep income statement under the heading
A) cost of goods sold
B) selling expenses.
C) operating expenses
D) other revenues and expenses.

Question

Quizplus · Accepted Answer

Interest expense on a mortgage is classified as "other revenues and expenses" because it is not directly related to the primary operations of the business.

Interest Expense on a Mortgage Would Be Classified on a Multistep