The income statement reports financial information related to the following broad areas of business except
A) sales
B) operating expenses
C) accumulated depreciation
D) interest expense

Question

Quizplus · Accepted Answer

The income statement reports financial information related to sales, operating expenses, and interest expense, but does not include information on accumulated depreciation. Accumulated depreciation is reported on the balance sheet as a contra-asset account that offsets the value of fixed assets.

The Income Statement Reports Financial Information Related to the Following