Expense vs Liability - What's the difference?
expense | liability |
A spending or consuming. Often specifically an act of disbursing or spending funds.
* , Sonnet 44:
That which is expended, laid out, or consumed. Sometimes with the notion of loss or damage to those on whom the expense falls.
(obsolete) Loss.
* , Sonnet 30:
To charge a cost against an expense account; to bill something to the company for which one works.
the condition of being liable.
an obligation, debt or responsibility owed to someone.
* 1901 , , (w, The Monkey's Paw)
a handicap that holds one back.
the likelihood of something happening.
As nouns the difference between expense and liability
is that expense is a spending or consuming often specifically an act of disbursing or spending funds while liability is the condition of being liable.As a verb expense
is to charge a cost against an expense account; to bill something to the company for which one works.expense
English
Noun
(wikipedia expense) (en noun)- She went to great expense to ensure her children would get the best education.
- Buying the car was a big expense , but will be worth it in the long run.
- We had a training weekend in New York, at the expense of our company.
- Husband nature's riches from expense .
- Jones reached the final at the expense of Jones, who couldn´t beat him.
- And moan the expense of many a vanished sight.
Synonyms
* (that which is expended) cost, charge, outlay, disbursement, expenditure, paymentDerived terms
* expense accountVerb
- It should be acceptable to expense a business lunch with a client.
Derived terms
* expense magazine, (Military):'' a small magazine containing ammunition for immediate use. - Henry Lee Scot ''Military Dictionary ----liability
English
Noun
(wikipedia liability) (liabilities)- "I was to say that Maw and Meggins disclaim all responsibility," continued the other. "They admit no liability at all, but in consideration of your son's services they wish to present you with a certain sum as compensation."