[Solved] Which of These Statements Is Not Correct

Question 1
Multiple Choice

Which of these statements is not correct?

A)An expense is the consumption or loss of resources that will result in a decrease in equity
B)A cost that provides future economic benefits is treated as an asset
C)To accountants the terms cost and expense always mean the same thing
D)Many costs eventually become expenses

Show Answer

10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes.

Business

Explore our library and get Accounting Homework Help with various study sets and a huge amount of quizzes and questions

3.5K

Study sets

66.5K

Quizzes

5.9M

Questions

Upload material to get free access

Upload Now Upload Now
Upload Now

Invite a friend and get free access

Upload NowInvite a friend
Invite a friend

Subscribe and get an instant access

See our plansSee our plans
See our plans