What is the difference between an expense and a liability?

[dbcTech]

An expense is something that a company incurs while producing
revenues, and a liability is something that is owed by the company
that may not be directly linked to revenues, such as a long-term loan,
or lease. An example of an expense is an Office Supplies Expense, or
an Advertising Expense, or a Utilities Expense. The Chart of Accounts
in Business! allows you to categorize accounts by Assets, Liabilities,
Expenses (Expense and Other Expense), Revenue (Revenue and Other
Revenue), Cost of Goods Sold, and Equity. If you are unsure of whether
or not to classify an item as a Liability or Expense, please check
with your accountant.