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Companies incur costs to acquire resources that will be used in operations to generate profits. Every
cost creates either an immediate benefit or a future economic benefit. Determining when the
company will realize the benefit from a cost is paramount. When a cost creates an immediate
benefit, such as fuel used in delivery vehicles, the company records the cost in the income statement
as an expense. When a cost creates a future economic benefit, such as purchase of delivery
vehicles to deliver the goods #pdf
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