Question

What is the meaning of the term expenses? Does the payment of cash by a business always indicate that an expense has been incurred? Explain

Answer 1

Answer:

hy

Explanation:

Expenses are outflows of cash or other assets from a person or company to another entity. ... If the business uses cash basis accounting, an expense is recognized when the business pays for a good or service. Under the accrual system, an expense is recognized once it is incurred.

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