The name Misael is ranked on the 6,938th position of the most used names. It means that this name is commonly used. We estimate that there are at least 40100 persons in the world having this name which is around 0.001% of the population. The name Misael has six characters.
As expense is an element of the income statement, it is calculated over the entire accounting period (usually one year) unlike balance sheet items which are calculated specifically for the year end date.
The interest expense is considered a cost that is necessary to earn the revenues shown on the income statements. Marilyn explains to Joe that the income statement is a bit more complicated than what she just explained, but for now she just wants Joe to learn some basic accounting concepts and some of the accounting terminology.