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An Analysis Of The Term Actually Incurred In Section 11(a) Of Income Tax Action Act No 58 Of 1962
Beginning of Essay
An Analysis of The Term Actually Incurred In Section 11(a) of Income Tax Action
STUDENT NO. CRWPET005
APRIL 1996
A TECHNICAL REPORT TO BE PRESENTED TO
THE DEPARTMENT OF ACCOUNTING
UNIVERSITY OF CAPE .... Middle of Essay
.... that an outflow of resources embodying economic benefits will
result from the settlement of a present obligation and the amount
at which the settlement will take place can be measured reliably...
Recognition of expenses:
94. Expenses are recognised in the income statement when a decrease in
future economic benefits related to a decrease in an asset or
an increase of a liability has arisen that can be measured
reliably. This means in effect that recognition of expenses
occurs simultaneously with the recognition of an increase
or a decrease in assets
95. Expenses a ....
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Words: 4108 - Pages: 15
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