54. Assume U.S. GAAP (generally accepted accounting principles) applies unless
otherwise noted.
For the most recent year a manufacturing company reports the following items on
their income statement:
Interest expense $62,500
Loss on disposal of fixed assets $50,000
Realized gain on sale of available-for-sale securities $17,750
Which of the items is classified as an operating item in the company’s income
statement?
A. Interest expense.
B. Loss on disposal of fixed assets.
C. Realized gain on sale of available-for-sale securities.
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