What do you mean expense?

What is an Expense? An expense is the cost of operations that a company incurs to generate revenue. As the popular saying goes, “it costs money to make money.” Common expenses include payments to suppliers, employee wages, factory leases, and equipment depreciation.

What is at the expense of meaning?

If something is done at the expense of someone or something, it is done in a way that harms someone or something. Here are some example sentences using the phrase: Malls flourished at the expense of small stores downtown. He argues that the tax cut will benefit the rich at the expense of the poor.

What are expenses examples?

Common expenses might include:

• Cost of goods sold for ordinary business operations.
• Wages, salaries, commissions, other labor (i.e. per-piece contracts)
• Repairs and maintenance.
• Rent.
• Utilities (i.e. heat, A/C, lighting, water, telephone)
• Insurance rates.
• Payable interest.
• Bank charges/fees.

WHAT is A expense in accounting?

An expense in accounting is the money spent, or costs incurred, by a business in their effort to generate revenues. Essentially, accounts expenses represent the cost of doing business; they are the sum of all the activities that hopefully generate a profit.

What are two types of expenses?

Types of Expenses The most common way to categorize them is into operating vs. non-operating and fixed vs. variable.

How do I use expense in a sentence?

Noun I don’t think a first-class ticket is worth the added expense. The annual fee is simply an expense of doing business. A new car is a major expense.

What is the adjective of expense?

Word family (noun) expenditure expense expenses (adjective) expensive ≠ inexpensive (verb) expend (adverb) expensively ≠ inexpensively.

What type of account is expense?

Expenses are income statement accounts that are debited to an account, and the corresponding credit is booked to a contra asset or liability account.

Is expenses an asset or liability?

Expenses are what your company pays on a monthly basis to fund operations. Liabilities, on the other hand, are the obligations and debts owed to other parties. In a way, expenses are a subset of your liabilities but are used differently to track the financial health of your business.

Is an expense an asset?

In order to distinguish between an expense and an asset, you need to know the purchase price of the item. Anything that costs more than $2,500 is considered an asset. Items under that $2,500 threshold are expenses.

What is the verb form of expense?

to charge or write off as an expense. verb (used without object), ex·pensed, ex·pens·ing. to be expensed.

Are expenses a debit or credit?

debit balances
Assets and expenses have natural debit balances. This means positive values for assets and expenses are debited and negative balances are credited.

What is a daily expense?

Basic living expenses, as the name implies, are ones necessary for daily living. Basic living expenses, as the name implies, are ones necessary for daily living, with main categories including housing, food, clothing, transportation, healthcare, and relevant miscellaneous costs.

What are household expenses?

What is considered a household expense? Your household expenses are your ordinary and necessary living expenses, such as mortgage or rent, food, utilities, and health care costs. They are the things you need to spend money on to live your lifestyle.

What are daily expenses?

What is expense type?

Types of Expenses non-operating and fixed vs. variable. Operating. Cost of Goods Sold (COGS) Marketing, advertising, and promotion.