Which of the following statements relating to section 8-1, is incorrect? 1. The word 'purpose' in 88-1(1)(b) may allow the Commissioner to examine the motive of the taxpayer in situations where the outgoing incurred by the taxpayer is involuntarily incurred, is excessive, and has no commercial explanation. II. An outgoing must produce assessable income in the year in which it was incurred to be deductible. III. The word 'necessarily' in 88-1(1)(b) means that the outgoing must be unavoidable in the sense that it is a compulsory payment IV. An outgoing can be 'incurred' even where there is no actual disbursement of cash. I and II only; ll and Ill only; I only; I, II and III only; 1:45 PM babae de ENG