There are some basics about business that most business owners are afraid to admit that they really don’t know or understand. Well, here at 2BH we’re going to give you the answers to the questions you might have been too embarrassed to ask.
What do the terms depreciation, liability, and expense mean?
Depreciation is the lessening value of an asset that happens over time.
Liabilities are the costs of what a business owes to someone else or some other business.
An expense is the money spent on things such as equipment, supplies, or other purchased items or services.
- Business 101: The Difference Between Advertising And Marketing (baybusinesshelp.com)