Which of the following appears in different sections of the income statement when prepared on a single-step basis and when prepared on a multistep basis?
A) Sales commissions
B) Rent expense
C) Interest expense
D) Sales

Question

Quizplus · Accepted Answer

Interest expense appears in the "Other expenses and losses" section in a multistep income statement, while it is included in the total expenses in a single-step income statement.

Which of the Following Appears in Different Sections of the Income