Interest paid on debt would be entered on the multistep income statement in the category called
A)selling expenses.
B)other revenues and expenses.
C)general and administrative expenses.
D)operating expenses.

Question

Quizplus · Accepted Answer

Interest paid on debt is not related to selling expenses, general and administrative expenses, or operating expenses. Therefore, it should be included in the category of other revenues and expenses, which includes non-operating items that do not fit into the other categories.

Interest Paid on Debt Would Be Entered on the Multistep