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Nature of expenses and an function of expenses?

Answer:
An expense is incurred when a business contract to purchase goods or accept services which will not constitute a resource for the future from which economic benefits can be expected to flow. In other words, an expense is a cost which is not classified as an asset to the business.
First answer by ID1444242339. Last edit by ID1444242339. Question popularity: 4 [recommend question].

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