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Charged to an expense account, fully reducing reported profit of that year, as is appropriate for expenditures for items with useful lives under one year.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Charged to an expense account, reducing the profit for a given project or assignment. The term is associated with charges connected to networking and other events used to attract clients or investors. Expensed items are written off on taxes as they reduce profit.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved