Liability vs. Expense
Liabilitynoun
An obligation, debt or responsibility owed to someone.
Liabilitynoun
A handicap that holds something back, a drawback, someone or something that is a burden to whoever is required to take care of them; an individual or action that exposes others to greater risk.
Liabilitynoun
The likelihood of something happening.
Liabilitynoun
The condition of being susceptible to something.
Liabilitynoun
The state of being liable; as, the liability of an insurer; liability to accidents; liability to the law.
Liabilitynoun
That which one is under obligation to pay, or for which one is liable.
Liabilitynoun
the state of being legally obliged and responsible
Liabilitynoun
an obligation to pay money to another party
Liabilitynoun
the quality of being something that holds you back
Expensenoun
A spending or consuming, often a disbursement of funds.
Expensenoun
The elimination or consumption of something, sometimes with the notion of loss or damage to the thing eliminated.
Expensenoun
(obsolete) Loss.
Expenseverb
(transitive) To charge a cost against an expense account; to bill something to the company for which one works.
Expensenoun
A spending or consuming; disbursement; expenditure.
Expensenoun
That which is expended, laid out, or consumed; cost; outlay; charge; - sometimes with the notion of loss or damage to those on whom the expense falls; as, the expenses of war; an expense of time.
Expensenoun
Loss.
Expensenoun
amounts paid for goods and services that may be currently tax deductible (as opposed to capital expenditures)
Expensenoun
a detriment or sacrifice;
Expensenoun
money spent to perform work and usually reimbursed by an employer;
Expensenoun
the cost incurred in or required for something
Expensenoun
the costs incurred in the performance of one's job or a specific task
Expensenoun
a thing on which one is required to spend money
Expenseverb
offset (an item of expenditure) as an expense against taxable income
Expenseverb
charge (something) to an expense account
Expense
Expenditure is an outflow of money, or any form of fortune in general, to another person or group as payment for an item, service, or other category of costs. For a tenant, rent is an expense.
