Each time a payment is made on an installment note, the part of the next payment associated with interest expense increases. This statement refers to a false statement.
An interest expense is a cost incurred by a party for borrowed funds. Interest expense refers to a non-operating expense represented on the income statement. It shows interest payable on any borrowings loans, bonds, convertible debt, or lines of credit. Since interest expense arises when an organization takes out a loan to finance its business operations, it is the added percentage of borrowing cash from a third party. Interest expense does not result in an increase in the payment of the next installment.
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