Define Cost , Expense and Loss in terms of accounting ?

Question

SAJID ALI SHAH SYED · Answer

Purchase price of assest is called expense. price/value/cost of used portion or quantity of asset is called expense. When assest become vanished or damaged or lost without providing benefit its cost become loss.

Kokab Rahman · Answer

Cost is the historical cost of an item. Expenses arise from normal activities a business entity undertake to earn revenue. Losses arise from extraordinary items like selling a long term asset for less than the book value.

This is a very interesting - and complex - area of accounting.

Having written and published the book Accounting for Beginners, I give accounting and business tips and lessons on my author Facebook page https://www.facebook.com/BeginnersArabic.

RAMAKRISHNAN HARIHARAN · Answer

Cost - This is term which gives us business and nothing is free in this world. Cost is also called investment.

Profit - If that Investment gives appreciation value then its called Profit.

Loss - If that Investment gives depreciation value then its called Loss.

Badar Khan · Answer

cost result in the ownership of some tthing

expenses do not result in any owner ship for example haircut,rent etc

loss is incurred when expenses are more than the revenue

خدمات بيت.كوم

استخدم تطبيق بيت.كوم

ابدأ بالتواصل مع الأشخاص وتبادل معارفك المهنية

Define Cost , Expense and Loss in terms of accounting ?

عمليات البحث الشائعة

المزيد من الأسئلة المماثلة