What is Expense in Accounting?

What is Expense in Accounting? – For Beginners

What is Expense in Accounting?

Expenses are the costs incurred to earn revenue.

or

A cost relating to the operations of an accounting period.

For Example: Office rent, Employes Salaries, Machinery repair etc.

For What are Liabilities in Accounting? Click Here or for What is Income? Click here

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