For a merchandiser,how is Interest Revenue classified on the income statement?
A)Income from Discontinued Operations
B)Extraordinary item
C)Other Revenues and Gains
D)Operating Expenses

Question

Quizplus · Accepted Answer

Interest Revenue is not an operating expense, income from discontinued operations or an extraordinary item. Therefore, the correct classification for Interest Revenue on the income statement is "Other Revenues and Gains."

For a Merchandiser,how Is Interest Revenue Classified on the Income