Some articles on expenses, accounts, account, expense accounts, expense account:
... If revenue equals expenses, the following (basic) equation must be true assets = liabilities + equity For the accounts to remain in balance, a change in ... These changes are made by debits and credits to the accounts ... Whether one uses a debit or credit to increase or decrease an account depends on the normal balance of the account ...
... In the United States, the use of an expense account can be traced back to George Washington, who chose to forego a salary and relied on an expense account to cover his purchases during his military leadership in ... Under today's tax laws of the United States, expense accounts are treated as either "accountable" or "unaccountable" ... Accountable expense accounts are subject to a variety of restrictions ...
Famous quotes containing the words accounts and/or expense:
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—Peter De Vries (b. 1910)
“I am not able to instruct you. I can only tell that I have chosen wrong. I have passed my time in study without experience; in the attainment of sciences which can, for the most part, be but remotely useful to mankind. I have purchased knowledge at the expense of all the common comforts of life: I have missed the endearing elegance of female friendship, and the happy commerce of domestic tenderness.”
—Samuel Johnson (17091784)