An expense by definition is not:
A) an amount a business must pay in the future.
B) an outflow of cash.
C) the use of other assets.
D) the incurring of a liability.

Name: An expense by definition is not: A) an amount a business must pay in the future. B) an outflow of cash. C) the use of other assets. D) the incurring of a liability.
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Question

Quizplus · Accepted Answer

An expense is not an amount a business must pay in the future; it is a cost that has already been incurred or is being incurred.

An Expense by Definition Is Not