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 business, managing 'expenses' effectively is pivotal for financial stability. A CFO might advise, 'Regularly reviewing and optimizing our expenses is crucial for maintaining healthy profit margins and ensuring the longevity of our company.'

Practice Scenarios

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.

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.