business and finance

Anonymous
timer Asked: Jul 10th, 2014
account_balance_wallet $5

Question Description

provide a good definition for expense?

Tutor Answer

javeria khaild
School: University of Maryland

The economic costs that a business incurs through its operations to earn revenue. In order to maximize profits, businesses must attempt to reduce expenses without also cutting into revenues. Because expenses are such an important indicator of a business's operations, there are specific accounting rules on expense recognition.


or 



 Money spent or costs incurred that are tax-deductible and reduce taxable income. 

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Anonymous
Good stuff. Would use again.

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