Which of the following statements are correct?

	1.	If any amount of revenue is received but either goods are to be supplied in future or services are rendered in future, the amount is not recognized as revenue in the current year, the result is to be shown as liability in the balance sheet but if any loss is there for which no revenue is earned it is to be charged from the current profit and loss account
	2.	When an item of revenue is recorded in the profit and loss account, all the expenses incurred whether paid for cash on not should be recorded as the expenses
	3.	When an item of expense is spent against revenue it will be entered in the following period, result would be to show it in the Balance sheet and in the following period, to be treated as an expense
	4.	Only 1 and 3
	5.	1,2,3