The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

RECOGNITION OF EXPENSE Definition & Legal Meaning

Definition & Citations:

This term is in reference to the inclusion of revenue in an income account. According to the provisions of GAAP, expense is recognized when incurred, whether it is paid or not.


This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.