An expense that would not appear in a partnership income statement is:
A) interest expense.
B) depreciation expense.
C) income tax expense.
D) advertising expense.

Question

Quizplus · Accepted Answer

Income tax expense is not reported on a partnership income statement as partnerships are not taxed on their income. Instead, each partner reports their share of the partnership's income on their individual tax returns and pays taxes on it accordingly. The other expenses listed, such as interest, depreciation, and advertising, may be reported on a partnership income statement.

An Expense That Would Not Appear in a Partnership Income