Travel And Entertainment 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
- Many companies require employees to document expenses charged to their travel and entertainment account for reimbursement and auditing purposes.
- The travel and entertainment account has been a topic of controversy due to the potential for abuse and misuse of company funds.
- To improve financial transparency, the company has implemented new protocols for tracking and approving expenses on employee travel and entertainment accounts.
- The executive used the company's travel and entertainment account to pay for a lavish dinner with a potential client, but was later required to repay the amount as it was deemed excessive.
- During the annual company audit, several discrepancies were found in the travel and entertainment accounts of multiple sales representatives, leading to further investigation.