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Which Expense account is usually shown as the last Expense item on the Income Statement, regardless of the amount that it reflects? Whichever Expense account that is the smallest in amount O Depreciation Expense Miscellaneous Expense O Other Expense

Which Expense account is usually shown as the last Expense item on the Income Statement, regardless of the amount that it reflects? Whichever Expense account that is the smallest in amount O Depreciation Expense Miscellaneous Expense O Other Expense

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which Expense account is usually shown as the last Expense item on the Income Statement, regardless of the amount that it reflects? Whichever Expense account that is the smallest in amount O Depreciation Expense O Miscellaneous Expense O Other Expense
Transcribed Image Text:Which Expense account is usually shown as the last Expense item on the Income Statement, regardless of the amount that it reflects? Whichever Expense account that is the smallest in amount O Depreciation Expense O Miscellaneous Expense O Other Expense
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Income statement will be prepared  before the  preparation of the statement of owner’s equity 

Income statement  will show  company  revenues and  profits  over the Particular period  of accounting 

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