distinguish between loss and expense
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Answered by
73
Expenses are those which company spend money on particular things ex.stationery,discount etc. And loss are those which company face in a period of year on sale production etc
Answered by
48
loss is a decrease in net incom that is outside the normal operations of the business.
For example if a person buys some goods fot 1000 rs and due damage in some goods he sells them all to a retailer for 950 rs.
An expense is a cost used up in earning revenues in a company's main operations. ... Expenses also include costs used up during the accounting period such as interest expense, insurance expense, and depreciation expense.
For example a soap company spends money for the advertisement of the product to attract customers and earn profit.
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