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Difference between outstanding expenses and prepaid …

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Difference between outstanding expenses and prepaid expenses ❓❓

Posted by Priyanshi Chandra 8 years, 1 month ago

CBSE > Class 11 > Accountancy

2 answers

Priyanshi Chandra 8 years, 1 month ago

Thanks

Rishali Shivhare 8 years, 1 month ago

Outstanding expenses are those expenses which are incurred but not paid,it is a liability for the business whereas prepaid expense are those expenses for which the amount have been given in advance but the services are not taken yet, thus it is an asset for the business.?

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