Is there any difference between Expenses and Payments

Answer Posted / satyaki_raju@yahoo.com

Mr Shyam your answer lacks clarity.
Expenses and Payments are to be understood as different
entities
Expenses-Money spent or costs incurred which are deductable
from revenue
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



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

outstanding expenses, prepaid or unexpired expenses

3482


fd redeem interest and principal entry in tally

614


what is the main link between the income statement and the balance sheet?

1615


Expand-------SNAT

1485


what is mean by T and E cosept

1566






what is data entry? what is report generation ?in accounting how it is used .

1805


hi guys, pls refer me how to preppare for Indian Bank exams.

1923


what is account & what is finance

1727


How do the standards assist the users of financial report?

1781


please answer this question.the following balances were extracted from the books of modern traders on 31st dec,2010.capital(85000)fixed assets(45000)stock1-1-2010(15000)sundry debtors(20600)productive exp(3300)reserves fund(6600)discount received(800)cash in hand(6200)drawing(5000)accomulated dep.(9000)purchases(82000)bad debts(400)unproductive exp.(27400)sundry creditors(9000)sales(120000)cash at bank(25500).adjustments.stock on 31-12-2010(15000).outstanding wages (5000) write-off (600)of further bad debts. create provision for bad & doubtful debts at {5%) on debtors.unproductive expenses includes anitem of prepaid insurance (100).provide depreciation on original cost of fixed assets @ (10%).

1892


what is the core accounts

1658


Ledger Is The Principle Book Of Accounts In Business. Do You Agree For It. Comment On Your Confirmation?

1639


i have completed my MBA with finace background. am intrested to learn oracle finace.can you suggest me which are good instittues in hyderabad.at area wise.

1697


What is Budgeted capital ?

1502


cany anyone explaing what are the functions of an Account Officer/Manager?

1611