Question

distinguish between expenses and losses .
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Answer 1

Answer:

One of the main difference between loss and expense is that total loss is computed with the help of total expenses and effects the total capital invested in the business. On the other hand, expenses do not directly affect the capital invested in a business.

Answer 2

If the benefit of an expenditure is exhausted within a year it is called expense whereas excess of expenses of a period over its related revenues is termed as loss.