Cost is a general term that can be applied to any business expenditure or loss. Expense is specific to situations such as travel or utility bills that relate to consumption of something.
ExampleOffice supplies such as paper are considered expenses as they are quickly consumed. Office equipment such as a computer is considered a cost as it endures as an investment for a period of time.
Next: Business Costs
An expenditure or loss.
An expenditure that is consumed immediately such as a meal or electricity.
More about business expenses:
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