Question

differenciate asset and expense​

Answer 1

Answer:

Assets are economic resources owned by a business entity which gives future benefits to the firm.

whereas, expenses are costs of different things which the business has to pay for example paying salary paying wages bill payments etc.

Hope it helps

Answer 2

Answer:

assets are economic resources but at the same time expense can also be economic resources. Asset and expense both are same thing only the difference is of time .for ex. rent is an expense but it can became an asset if it is prepaid.