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Multiple choice 21: Which of the following are expenses? i. GST on an inventory purchase ii. GST on an advertising expense iii. Repayment of principal

Multiple choice 21:

Which of the following are expenses?

i. GST on an inventory purchase

ii. GST on an advertising expense

iii. Repayment of principal on a loan

A. ii only

B. i and ii only

C. i, ii and iii

D. None of the above

Why none of the above is expense?

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