Which of the following items may be classified as nonoperating revenues and expenses?

Question

Quizplus · Accepted Answer

Interest expense and interest revenue are both financial in nature and therefore classified as nonoperating revenues and expenses. Loss on the sale of equipment is not related to the company's primary operations and is also classified as a nonoperating expense. Therefore, all three options are classified as nonoperating revenues and expenses.

Which of the Following Items May Be Classified as Nonoperating