Which of the following statements about income is not true? a. Income arises when there is control over the increase in economic benefits b. Income includes cash collection from owners. c. Income can be in the form of decreases of liabilities. d. Income results in increases in economic benefits. a. Income arises when there is control over the increase in economic benefits b. Income includes cash collection from owners. c. Income can be in the form of decreases of liabilities. d. Income results in increases in economic benefits. Which of the following statements about the going concern assumption is true? a. It justifies the use of historical costs when measuring non-current assets. b. It allows Prepaid Expenses to be recognised as an asset. c. It requires the systematic allocation of depreciation over an asset's useful life. d. All of the above a. It justifies the use of historical costs when measuring non-current assets. b. It allows Prepaid Expenses to be recognised as an asset. c. It requires the systematic allocation of depreciation over an asset's useful life. d. All of the above