For a retailer,how is Interest Expense classified on the income statement?
A)Operating Expenses
B)Extraordinary Expense
C)Income Tax Expense
D)Other Expenses and Losses

Question

Quizplus · Accepted Answer

Interest expense is typically classified as "Other Expenses and Losses" on the income statement. This category includes any expenses that are not directly related to the company's operations or cost of goods sold. Interest expense is a cost of borrowing money and is an example of a financial expense that does not relate to the company's routine selling or administrative activities.

For a Retailer,how Is Interest Expense Classified on the Income