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A business (company or individual) earns money - called earning or revenue.
To earn this, the entity incurs expenses - such as material, salaries, telecom costs.
When you subtract the expenses from the revenue, the result is called 'profit', if it is positive, and 'loss', if negative.
So the difference is - expenses are the costs incurred by a business, and loss is the difference between earnings and expenses, (if expenses are more than revenues).
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What is difference between advance expenses and prepaid expenses?
i dont have any knowlege.....Nikita Gohil
What the difference between expenses and prepaid expenses?
Expenses are those amounts the benefit of which is already taken by business while prepaid expenses are advance payments for those expenses which company will incur in future.
What is the difference between revenues and the expenses needed to operate the business?
profit or loss
Difference between outstanding expenses and unexpired expenses?
Outstanding expnese is that expense which is already incurred but amount is not paid while unexpired expenses are those expenses for which payment is made in advance but actually expenses are not yet incurred.
What is the difference between income and expenses?
Income items and expenses differ on many fronts, but they also share conceptual proximity in some situations
What is the difference between preliminary and preoperative expenses?
THERE IS NO DIFFERENCE BETWEEN PRELIMINARY AND PREOPERATIVE EXPENSES. THESE EXPENSES ARE INCURED IN BREFORE OPENING THE DOORS OF A BUSINESS OR RELEASING A NEW PRODUCT INTO THE MARKET ETC.. FOR EXAMPLE ADVERTISMENT, PRELAUNCHING EXPENSES, ETC.
What is difference between advance expenses and prepaid expenses?
i dont have any knowlege.....Nikita Gohil
What is your conclusion in financial statement?
the financial statement helps one to know the difference between income or gains and expenses or losses in p and l A/C.and the balance sheet to compare with the last years profits.
What the difference between expenses and prepaid expenses?
Expenses are those amounts the benefit of which is already taken by business while prepaid expenses are advance payments for those expenses which company will incur in future.
What is the difference between conveyance and traveling expenses?
muje kya pta
What the definition of expenses in accounting rules?
debit all expenses and losses
What is the us deficit?
The difference, on a yearly basis, between the budget (expenses) for the federal government of the United States and revenues (income). When the expenses are more than the income, the difference is called the deficit. When the income is more than the expenses, the difference is called a surplus.
What is us deficite?
The difference, on a yearly basis, between the budget (expenses) for the federal government of the United States and revenues (income). When the expenses are more than the income, the difference is called the deficit. When the income is more than the expenses, the difference is called a surplus.
Are revenues the same as net income?
Revenues are earnings from sales of products and net income is the difference between revenues and expenses.
What is the difference between revenues and the expenses needed to operate the business?
profit or loss
Difference between outstanding expenses and unexpired expenses?
Outstanding expnese is that expense which is already incurred but amount is not paid while unexpired expenses are those expenses for which payment is made in advance but actually expenses are not yet incurred.
What is the formula to calculate profit?
A simple profit formula reconciles revenue to losses and expenses. Profit equals the total revenue subtracted by losses and expenses.
