Accounting Dictionary - Letter E

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Expenses
are decreases in assets (e.g., rent expenses) or increases in liabilities (e.g., accrued utility expenses) that result from operating activities undertaken to generate revenue. Expense accounts normally have debit balances. Expenses are subtracted from revenues to determine net income.
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