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In relation to the income statement which of the following statements is incorrect: Question 1 Answer a . An outflow of cash may result without
In relation to the income statement which of the following statements is incorrect:
Question Answer
a
An outflow of cash may result without incurring an expense.
b
An expense is generally debited to the income statement.
c
An outflow of cash is not a requirement to record an expense.
d
An outflow of cash always represents an expense
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