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QUESTION 18 The outflow of assets resulting from the sale of products and services is called a(n) a. revenue. b. asset. c. li
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Answer #1

The correct answer is (d) Expense

The outflow of assets resulting from the sale of products and services is called EXPENSE

An expense is the reduction in value or outflow of an asset as it is used to generate revenue.Expenses are summarized and charged in the income statement as deductions from the income before assessing income tax.

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