business and finance

User Generated

funebawbuafba28

Business Finance

Question Description

provide a good definition for expense?

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Explanation & Answer

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. 

wnirevn xunvyq (253)
University of Maryland

Anonymous
I was having a hard time with this subject, and this was a great help.

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