expense

Vocabulary Word

Definition

Expense is a more professional term for the cost of things, or money spent. For example, if a company buys computers for their office, that's an expense.

Examples in Different Contexts

In tech companies, 'expense' management is essential to control the costs of development and operations. A tech lead might assert, 'Efficiently managing expenses related to software development and infrastructure is vital for our product’s success and company’s growth.'

Practice Scenarios

Public-Policy

Scenario:

This policy proposal, though financially impactful, promises significant social benefit. Let's analyze the cost-effectiveness.

Response:

The expense of the policy should be seen in light of the long-term benefits it will bring to the community.

Accounting

Scenario:

Let's review the tax deductions for business expenses. Accuracy is crucial in these reports.

Response:

I’ll double-check these receipts so we can account for every expense before submitting the tax documents.