Is there any difference between Expenses and Payments
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Answer / firstname.lastname@example.org
Mr Shyam your answer lacks clarity.
Expenses and Payments are to be understood as different
Expenses-Money spent or costs incurred which are deductable
Payments-These are the amounts that have paid out.They may
relates to purchase of tradable goods,purchase of
assets,clearing of previous dues,loans to staff etc
|Is This Answer Correct ?||38 Yes||1 No|
Answer / shyam
Expenses means it is including that transaction for which no
payment is made means either payment is made or not, it is
not a matter, but payment means only that value which
already paid for some transaction.
|Is This Answer Correct ?||15 Yes||7 No|
Answer / tanvir
Expenses is deducted from revenue. payment is some value
paid agisnt expesnses, liability, advances and fixed assets etc
|Is This Answer Correct ?||7 Yes||1 No|
Answer / satyanarayana.j
Expenses is an expenses. Money can reduce & the word can
use little bit amounts. we should not get any assets,
Payments:- it means we can get some assets, liabilities
against the payments. we can loss revenue but the same cost
or more asset we should get against payments.
|Is This Answer Correct ?||3 Yes||3 No|
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