Outstanding expense is ____________ for business.

Liability

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Asset

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Expense

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Income

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A Liability
Outstanding expenses are recorded in books of finance at the end of an accounting period to show the true numbers of a business. The outstanding expense is a personal account and is treated as a liability for the business. It is also shown on the liability side of a balance sheet.

Suggest Corrections

Similar questions

The monthly income and expenses for a business are 1,00,000 Rupees and 50,000 Rupees respectively. This is a case of ___.

Join BYJU'S Learning Program