Which of the following statements are incorrect? (a) Depreciation, consumables and credit losses recovered are examples of expenses. (b) Expenses increase on the debit side and decrease on the credit side of the T-account as expenses increase the profit for the year. (c) The profit on sale of a non-current asset is an example of a gain of a business entity which does not arise from normal activities of the entity (d) Expenditure is incurred to earn income. (e) Credit losses, cost of sales and loss on sale of a non-current asset are examples of expenses that arise from the generation of income. A. b, c and d. B.a, b, d and e. . . . C. a, b and e. . D. a, b and c. . E. a, b, c, d and e. Reset Selection