Interest expense would be classified on a multiple-step income statement under the headingO Operating expenses.Other expenses and losses.O Cost of goods sold.,O Other revenues and gains.

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Description: Interest expense would be classified on a multiple-step income statement under the headingO Operating expenses.Other expenses and losses.O Cost of goods sold.,O Other revenues and gains.

Interest expense is an expenses.

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Business

Accounting

Interest expense would be classified on a multiple-step income statement under the heading O Operating expenses. O Other expenses and losses. O Cost of goods sold., O Other revenues and gains.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 20MC: A multi-step income statement ________. A. separates cost of goods sold from operating expenses B....

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