Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. which of the following statements is false?

Which of the following statements is false? ...

60.1K

Verified Solution

Question

Accounting

Which of the following statements is false?

An expense is a cost incurred to generate revenues.

Selling assets at a gain does not result in earning revenue.

Revenues are reported on the income statement as they are earned.

Revenues result in an increase in net income and additional paid-in capital.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

O Calculate wavelength of an electron moving with a velocity of 2 05 107 ms...

Physics
1.2K views

A hypothetical element Z exists in nature as two isotopes Z65 and Z67 with their...

Statistics
1.2K views

Annual starting salaries for college graduates with degrees in business administration are generally expected to be...

Accounting
1.2K views

Q1. Differentiate between fundamental qualities and enhancing qualities for qualitative characteristics of financial information, give examples. Q2. Both...

Calculus
1.2K views

2 lim sin 4x sin 6x x 0 uds 0 C 0 D 1 E...

Algebra
1.2K views

Let T: M??? M?? be defined by T([a b])...

Accounting
1.2K views

For the year ended December 31, 2020, the job cost sheets of Cullumber Company contained...

Accounting
1.2K views

Present Value for Various Compounding Periods Find the present value of $500 due in the...

Accounting
1.2K views

8. LO.8 On April 5, 2023, Kinsey places in service a new automobile that cost...

Accounting
1.2K views

Using the incremental analysis to complete the table below and select the preferred alternative. Assume...

Finance
1.2K views

show work (Individual or component costs of capital) Compute the cost...

Finance
1.2K views

You are considering the purchase of a stock that yesterday announced EPS of $5.34. If...