Final answer:
On a multiple step income statement, the category of revenues and expenses reported immediately after operating income is referred to as non-operating revenues and expenses.
Step-by-step explanation:
On a multiple step income statement, the category of revenues and expenses reported immediately after operating income is referred to as non-operating revenues and expenses. Non-operating revenues and expenses are those that are not directly related to the primary operations of the business. Examples of non-operating revenues include rental income, interest income, and gains from the sale of assets. Examples of non-operating expenses include interest expense, losses from the sale of assets, and taxes unrelated to the business.
Non-operating revenues and expenses are reported after operating income to clearly differentiate between the core revenue and expense items related to the business operations and those that are incidental or outside of the core operations.