Asked by Brittany Hoffman on May 11, 2024

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On the income statement, miscellaneous expenses are usually presented as the last item without regard to the dollar amount.

Income Statement

An Income Statement is a financial document that reports a company's revenues, expenses, and net income over a specific period of time.

Miscellaneous Expenses

Minor or incidental expenses that do not fit into the standard expense categories of a business's budget.

  • Identify the classification and nature of different balance sheet and income statement accounts.
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Rodnesha AustinMay 15, 2024
Final Answer :
True
Explanation :
Miscellaneous expenses are typically listed last on the income statement, as they are not large enough to warrant a separate line item and are grouped together regardless of their individual amounts.