Which of the following expenses is usually listed last on the income statement?
A)Advertising expense
B)Cost of sales
C)General administrative expenses
D)Income tax expense

Question

Quizplus · Accepted Answer

Income tax expense is usually listed last on the income statement, after all other expenses have been deducted. This is because income tax expense is calculated based on the company's taxable income, which is the amount of income remaining after all other expenses have been deducted.

Which of the Following Expenses Is Usually Listed Last on the Income