Business Finance
business and finance

Question Description

Need help with my Business question - I’m studying for my class.

provide a good definition for expense?

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Final 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. 

University of Maryland

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