Are expenses assets?

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Apologies for the lack of knowledge. Do you know if expenses are included in the assets? Do I include the expenses on the balance sheet and where?

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score 0 · Answer 1 · 2013-04-21T09:35:43+00:00

Expenses are everything that the company incurs to generate the sales that it generates. In addition, the assets are part of the balance sheet (or the statement of financial position as it’s called). Expenses are part of the income statement (or the statement of comprehensive income as it’s called).