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. Solution Which of the following statements is false ? Revenues result in an increase in net income and additional paid-in capital .

1. 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.
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.
Solution
Which of the following statements is false ?
Revenues result in an increase in net income and additional paid-in capital