Question

What is outstanding expenses?​

Answer 1

Answer:

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Explanation:

Outstanding Expenses Meaning

The outstanding expense is a personal account with a credit balance and is treated as a liability for the business. It is recorded on the liability side of the balance sheet of a business. For accounting accuracy, these expenses need to be realised whether they are paid or not.

Answer 2

Answer:

outstanding expenses,:

The expenses incurred in the accounting period but not paid till the end of the accounting period

eg: outstanding salary

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