Question

Define the term Expenses.Can Expenses and Revenue Expenditure used interchangeably?Give example if Expenses.
Class 11 ( Accountancy)​

Answer 1

ANSWER:

Expenses:

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.” ... Businesses are allowed to write off tax-deductible expenses on their income tax returns to lower their taxable income and thus their tax liability.

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