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What is outstanding expense? |
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Answer» Expense which we have to pay but we haven\'t oaid yet. It is liability Those expenses which are due but not paid.... Expwnses which are due this year but we\'re not paid. This is an example of personal account . It is a liability for the firm. As per accrual basis of accountancy it is to. Be added to paid expenses for calculating profit or loss of this year Due but not paied |
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