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Which of the following is true about formal work groups?
Expense
A cost or charge that is incurred in the process of generating revenue, typically classified on an income statement.
Liability
A financial obligation or amount owed by an individual or entity, typically representing loans or accounts payable.
Asset
Resources owned or controlled by a business that are expected to produce future economic benefits.
Liability
A financial debt or obligation that an entity is required to pay to another entity in the future.
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