Costs vs. expensesDefinition of costsCosts is a consumption of non-monetary funds. These non-monetary funds are used for business activity.Definition of expensesExpenses is a consumption of monetary funds. These monetary funds are used for business activity.Division of costs in account classificationA) Costs for current activityCosts for current activity is a total amount of costs for economic and financial activity.B) Costs for economic activityCosts for economic activity is a total amount of c...