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An Analysis Of The Term Actually Incurred In Section 11(a) Of Income Tax Action Act No 58 Of 1962 Beginning of Paper An Analysis of The Term Actually Incurred In Section 11(a) of Income Tax Action STUDENT NO. CRWPET005 APRIL 1996 A TECHNICAL REPORT TO BE PRESENTED TO THE DEPARTMENT OF ACCOUNTING UNIVERSITY OF CAPE TOWN .... Middle of Paper .... that an outflow of resources embodying economic benefits will result from the settlement of a present obligation and the amount at which the settlement will take place can be measured reliably... Recognition of expenses: 94. Expenses are recognised in the income statement when a decrease in future economic benefits related to a decrease in an asset or an increase of a liability has arisen that can be measured reliably. This means in effect that recognition of expenses .... 4108 words | 15 pages Subscription Length Price Join 30 days membership (recurring) $19.95 90 days membership (recurring) $39.95 180 days membership (non-recurring) $69.95