When you use an expense account, you charge each expense to its account instead of combining it with other daily expenses. This makes things more transparent and helps managers keep spending in check.
It is common for different costs to have their account, like marketing, travel, or office goods. This lets companies track how much they spend in each area and change their plans as needed.
Which is not an expense account?
A): Repairs
B): Advertising
C): Interest
D): Accrued
The correct Answer is D): Accrued
Explanation:
An expense account contains an amount of money (funds) sent to an employee by an employer of labor, allowing the employee to spend the funds on things connected to his or her job.
In business management, examples of an expense account include the following:
- Repairs
- Advertising
- Rent
- Interest
Conclusion
Finally, it’s important to know the difference between an expense account and another. Expense accounts are meant to keep track of the costs of running a business, but not all costs should be put in one. If you know what kinds of costs should go into your company’s spending accounts, you can be sure you’re using them correctly and keeping good records of your money.
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FAQs
What are examples of expenses accounts?
There are some examples of expenses accounts:
- Salaries account
- Rent account
- Repairs account
- Advertising account
Which is an expense account?
The amount a company spends on regular costs throughout an accounting period is recorded in expense accounts.
Which is not an expense account indeed?
Accrued expenses are not an expense account.
Which is not an expense account quizlet?
Accrued is not an expense account.
Which is not an expense account accrued expense?
Accrued is not an accumulated expense account.
