Expense - What is expenses and examples?

Q: What is expenses and examples?

Costs that are matched with revenues on the income statement. For example, Cost of Goods Sold is an expense caused by Sales. Insurance Expense, Wages Expense, Advertising Expense, Interest Expense are expenses matched with the period of time in the heading of the income statement.

Answer

Amounts spent that are directly attributable to income. Cost of Goods Sold is one expenditure that arises from sales. The income statement's header indicates the period of time for which certain costs, such as insurance, wages, advertising, and interest, are incurred.

Expense - What is expenses and examples?

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