Elance Exams Answers PDF file

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Which of the following specifically describes an 'expense' rather than a 'cost'?

it is the sacrifice of resources where we cease to have the ability to use that resource to buy something else.
it is a measured value that includes unused economic benefit
it is the monetary value that was used up in the generation of revenue for an accounting period
it is the amount of cash or cash equivalents paid to initially acquire an asset
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