Art Original
FARM ACCOUNTING
Loss” or other terms in common use in commercial ac-
counting. An expense is not a loss, but a means of making a profit. It is the profit-making agency of a business.
Without expenses one cannot expect to make a _ profit.
Nevertheless, this is considered as a distinction not essential to a correct understanding of the interpretation of
business transactions in the books of a farm; nor is it es-
sential to the formation of correct conclusions to be drawn
from the accounts.
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