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THE CONCEPTUAL FRAMEWORK


            Elements Of The Financial Statements





            Expenses




            • Definitions:



                    • Expenses include losses and expenses.


                    • Expenses arise in the ordinary activities of the entity.


                    • Losses may or may not arise from ordinary activities of an

                       entity.



            • Recognition:



                    • When a decrease in future economic benefits related to a

                       decrease in an asset or increase of a liability has arisen that

                       can be measured reliably.





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