Question

Expenses are best defined as: Multiple Choice Amounts owed to creditors. Amounts the owners have invested in the business. Costs of providing products and services. Distributions to stockholders.

Answer 1

The best way to describe expenses is as the cost of delivering goods and services.

What exactly is a cost?

An expense is a business's operational cost incurred to produce income. It takes money to make money, as the adage goes. Supplier payments, staff salaries, manufacturing leases, and equipment depreciation are examples of frequent costs.

What are some examples of expenses?

• Cost of goods supplied for routine business operations is one example of a common expense.
• Pay, commissions, and various forms of labor.
• alterations and upkeep.
• Rent.
• utilities (such as heat, air conditioning, lighting, water, and a phone)
• rates for insurance.
• Interest that is owed.
• Bank fees and charges

Which 5 categories of expenses are there?

The various expenses include 

• Cost of Goods Sold.
• Operating Charges
• Financial Outlays.
• Astonishing Charges.
• Non-operational Costs.
• Other Expenses.
• Prepaid Charges.
• Accrued Costs.

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