Which account would be reported on the income statement?
A)Wages Payable
B)Interest Payable
C)Notes Payable
D)Interest Expense

Question

Quizplus · Accepted Answer

Interest Expense is an expense account that reflects the cost of borrowing money and it would be reported on the income statement. Wages and interest payable are current liabilities and notes payable is a long-term liability, which are not directly reported on the income statement.

Which Account Would Be Reported on the Income Statement