The definition of expenses includes
A) losses only.
B) expenses and losses.
C) expenses only.
D) expenses, losses and unrealized losses on available-for-sale securities.

Name: The definition of expenses includes A) losses only. B) expenses and losses. C) expenses only. D) expenses, losses and unrealized losses on available-for-sale securities.
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Question

Quizplus · Accepted Answer

Expenses include both expenses and losses, as they represent outflows or using up of assets as part of operations and other activities.

The Definition of Expenses Includes