Question

__________are outflows or other using up of assets or incurrences of liabilities during a period from delivering or producing goods, rendering services or other activities that constitute the entity’s ongoing major or central operations.

Answer 1

Answer:

Expenses

Explanation:

An expense is the cost of an asset used in order to generate revenue, therefore, to create sales (the central operation of a company). This cost is not a monetary measure because an expense is when an asset is used up.

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