Is there any difference between Expenses and Payments

Answer Posted / satyanarayana.j

Expenses is an expenses. Money can reduce & the word can
use little bit amounts. we should not get any assets,
liability.

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



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

hi.this krishan .i m slect in axis bank for executive. when i sposse to join

1896


What is COVER payment?

2190


describe the most complex challenge that you have faced and how you managed it

1757


Is interest of a business unit Operating Expense or Non Operating Expense

1453


Hi, I would like to check if my understanding is correct I have a negative amount for provision of income tax in my balance sheet from my previous financial year.What are the accounting treatments for income tax paid and then refunded to you for the current year? Is this correct? For payment Dr provision of income tax cr bank For tax refund Cr provision of income tax Dr bank Do I need to input anything in income tax expense acct?

1235






Three steps for correction in BRS?

1702


What is meant by retiring Bill

1484


What is the treatment of Capital Work in Progress as per the International Accounting Standards.

4404


can any body help me with a copy of (any month/year) bank reconsilation statement,udai_skumar@yahoo.com

1609


EXPAND_________SCM

1764


WHAT IS B.E.P. CHART

1927


my boss (Managing Partner of a firm) promoted along with his wife a private limited company. he and she spent some Rs. 75,000/- (approx) for the promotion of the company. i know that they usually fall under the head of preliminary expenses. but after receiving the certification of incorporation of the company how shall i repay them to the promoters i.e. what is the accounting entry in the books (initial books of accounts) for the expenditure incurred. they have kept in hand 5,00,000/- each to meet the expenses and they were allotted shares of equal to the amount. can i allot shares for a consideration of cash from and excluding the preliminary expenses. can i take cash towards the share application money (being the cash more than Rs. 20,000/-) as the company has not opened a bank account yet. please give me the detailed answer with journal entries that can be entered in tally. thank you.

1490


how will i develop my fears in interviewd?

1569


Plz send me the questions that could be asked in an interview for a Bank Clerical job to suja_aln@yahoo.co.in. Thank you.

1414


Example for extra ordinary expenditure?

2215