Question: (S.O. 4) In general, the basic difference between the concepts of revenues and gains concerns: the materiality of the item being considered. whether the event

(S.O. 4) In general, the basic difference between the concepts of revenues and gains concerns:

the materiality of the item being considered.

whether the event giving rise to the item relates to the typical activity of the enterprise.

whether the item is taxable in the current year.

TOw>t he effect on total assets of the enterprise.

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