What really characterizes the expense is the existence

Assignment Help Accounting Basics

Reference no: EM133921626

Problem

The main difference between expense, cost and payment is: Group of answer choices That they always occur at different times. Expense and cost are the same, payment is when the amount is disbursed. Expense is accounting terminology, cost is analytical, and payment is financial. What really characterizes the expense is the existence of an acquisition, whatever the way of financing it (where the concept of payment would come in). Get the instant assignment help. The cost is incurred when the expenditure is used to create something of greater value, from a productive or operational point of view.

Reference no: EM133921626

Questions Cloud

What is a performance transaction in g-invoicing : What is a performance transaction in G-Invoicing that is considered a work-in-progress transaction type that is submitted by the Seller to a specific Schedule.

Write about how essay made you feel : Fitzhugh Journal Assignment - Write on places where you agree with Fitzhugh and places where you disagree with Fitzhugh

Analyze financial impact of implementing your costing system : Analyze the financial impact of implementing your chosen costing system. How will it affect product pricing, cost control, and profitability?

Concept of latent defects in this situation : Discuss how warranties would apply and the concept of latent defects in this situation.

What really characterizes the expense is the existence : What really characterizes the expense is the existence of an acquisition, whatever the way of financing it (where the concept of payment would come in).

Descriptive analysis of the study population : Choose a terminology related to the health area (Nursing), and develop the concept analysis step by step What is the difference between descriptive

Role of the community under the restorative justice model : According to changing lenses what are the assumptions for the role of the community under the restorative justice model?

What is the net present value of the investment : Assuming a discount rate of 10%, what is the net present value (rounded to the nearest whole dollar) of this investment?

Challenges of implementing police body cameras : Policy and Legal Challenges: Concerns about privacy rights for both officers and civilians, and the potential misuse of footage.

User Account

All Pages