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What are the different types of expenditures?Services - Knoxville (Tennessee) - January 3, 2026Expenditures can be categorized into three broad categories in accounting: capital expenditures, revenue expenditures, and deferred revenue expenditures.
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Is cost of sales an expense?Services - Knoxville (Tennessee) - December 29, 2025
Yes, your cost of sales is an expense. It is neither what your business owns (an asset), nor a liability that you owe. Cost of sales is directly related to the amount of money your business spends to acquire or produce a product you sell.
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What is the classification of assets and liabilities?Services - Knoxville (Tennessee) - December 20, 2025
Assets are valuable things you own (like cash, property, patents) that generate future benefit, while liabilities are debts or obligations you owe (like loans, mortgages, accounts payable) requiring future outflow of resources, categorized as current...
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