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      Question

      For a non-financial firm, are depreciation expenses and

      interest expenses included or not included from operating expenses in the income statement? Depreciation                    interest        included                     included       included                     not included         not included               included        not included               not included        none
      A Only 1 Correct Answer Incorrect Answer
      B Only 2 Correct Answer Incorrect Answer
      C Only 3 Correct Answer Incorrect Answer
      D Only 4 Correct Answer Incorrect Answer
      E Only 5 Correct Answer Incorrect Answer

      Solution

      Depreciation is an operating expense but interest expense is a financing cost so will be included in non-operating expense

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