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The test for distinguishing between an asset and an expense is:. Accounting & Finance
Main page
Library
Accounting & Finance
The test for distinguishing between an asset and an expense is:
2019-10-08 23:19:19
Accounting & Finance
Given in the accounting equation
The distinction is automatic
Whether the item will be turned into cash in the current accounting period
None of the above
Whether the benefit extends beyond the current accounting period
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