A company's interest expense for the period is reported on the:
A)balance sheet.
B)income statement.
C)statement of cash flows.
D)statement of retained earnings.

Question

Quizplus · Accepted Answer

Interest expense is a non-operating expense and is reported on the income statement as part of the company's expenses. The balance sheet reports the company's assets, liabilities, and equity at a specific point in time. The statement of cash flows reports the inflows and outflows of cash during the period. The statement of retained earnings reports the changes in retained earnings during the period.

A Company's Interest Expense for the Period Is Reported on The