Question

Distinguish between cost and expenses.

Answer 1

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The Question is Give below

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The difference between cost and expense is that cost identifies an expenditure, while expense refers to the consumption of the item acquired. This situation arises with any expenditure related to a specific period, such as the monthly utility bill, administrative salaries, rent, office supplies, and so forth.

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Answer 2

Answer:

The difference between cost and expense is that cost identifies an expenditure, while expense refers to the consumption of the item acquired. This situation arises with any expenditure related to a specific period, such as the monthly utility bill, administrative salaries, rent, office supplies, and so forth.