Expense Account (Noun)
Meaning
An account to which salespersons or executives can charge travel and entertainment expenses.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The company issued him a corporate credit card for his expense account, so he didn't have to pay for work-related meals and trips out of pocket.
- Many business executives keep an expense account for professional lunches, meetings, and client events.
- Before approval, his expense account claim had to include itemized receipts for the international trip.
- Companies should carefully review expense account statements for evidence of over-spending or unjustifiable costs.
- Maintaining detailed records is key for staff when filling out the firm's expense account claims for reimbursements.