34. Which of the following is the definition of an expense?

1. Outflows or other using-up of assets or incurrences of liabilities during a period from delivering or producing goods, rendering services, or carrying out other activities that constitute the entitys ongoing major or central operations.
2. Inflows or other enhancements of assets of an entity or settlements of its liabilities during a period from delivering or producing goods, rendering services, or other activities that constitute the entitys ongoing major or central operations.
3. Decreases in equity (net assets) from peripheral or incidental transactions of an entity except those that result from expenses or distributions to owners.
4. Increases in equity (net assets) from peripheral or incidental transactions of an entity except those that result from revenues or investments by owners.