NAC706.852. Accounts for other nonoperating expenses.

     1. The account for interest expense includes all expenses for interest paid or accrued on loans or notes payable, whether short or long term.

     2. The account for loss on sale of assets, except automotive equipment, reflects any losses incurred from the sale of any equipment or improvements other than automobiles at a price below book value. (See subsection 14 of NAC 706.816.)

     3. The account for loss on investments reflects any income from the sale or other disposition of an investment carried on the books of the taxicab company as an asset.

     4. The account for miscellaneous other expenses includes any expenses not provided for elsewhere in these accounts.

     [Taxicab Auth., Uniform System of Accounts Reg. §§ 951-960, eff. 11-16-79]