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Interest expense would be classified on a multiple-step income statement under the heading
Formal
Following or being in accord with established procedure, principle, or protocol, often in organizational or official settings.
Large Organizations
Companies or institutions with a large number of employees, complex structures, and extensive operational scopes.
Formalization
The extent to which rules, procedures, and standards guide employee behavior within an organization.
Centralization
The concentration of decision-making authority at the top levels of an organizational hierarchy.
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