State True or False: The costs incurred in the process of earning revenue are called assets.

True

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False

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Solution

The correct option is B
False

The costs incurred in the process of earning revenue are called expenses.

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Similar questions

State True or False: The resources owned by a business entity which give future benefits are called assets.

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Fixed assets are those assets which remain in the business for more than a year. State true or false.

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