Which of the Following Statements Is True

Multiple Choice

Which of the following statements is true?

A) Expenses and losses both represent decreases in assets or increases in liabilities; the terms can therefore be used interchangeably.
B) Expenses and revenues deal with peripheral activities,while losses and gains deal with operating activities.
C) Expenses and revenues deal with operating activities,while losses and gains deal with peripheral activities.
D) Revenues and gains both represent increases in assets or decreases in liabilities; the terms can therefore be used interchangeably.