Difference between revisions of "Expenses"
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| − | [[Expenses]] is a cost incurred in running an [[organization]] by consuming goods or services in producing revenue. ''Expenses'' | + | [[Expenses]] is a cost incurred in running an [[organization]] by consuming goods or services in producing revenue. ''Expenses'' can also refer to a group of [[financial account]]s that record those costs. These accounts serve as [[adjusting account]]s for [[Revenue]] and are a subdivision of [[owner's equity]]. |
Revision as of 19:10, 11 December 2018
Expenses is a cost incurred in running an organization by consuming goods or services in producing revenue. Expenses can also refer to a group of financial accounts that record those costs. These accounts serve as adjusting accounts for Revenue and are a subdivision of owner's equity.
