OUTGOINGS Meaning and
Definition
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Outgoings, in the context of finance and accounting, refers to expenses or costs incurred by an individual, business, or organization in order to maintain their operations and drive revenue. These expenses are essential for the day-to-day running and functioning of any entity.
Outgoings can encompass various types of expenditure, including fixed and variable costs. Fixed outgoings consist of regular expenses that do not fluctuate significantly, such as rent or mortgage payments, utilities, insurance premiums, and salaries. These are typically recurring payments that are necessary to sustain the organization's infrastructure.
On the other hand, variable outgoings are expenses that change depending on the level of activity or business operations. Examples of variable outgoings may include raw material costs, marketing expenses, commissions, and transportation fees. Unlike fixed outgoings, variable outgoings can vary in terms of amount or frequency.
Managing outgoings is crucial for any business or individual to maintain financial stability and ensure profitability. It requires careful planning, budgeting, monitoring, and control of expenditure. By effectively managing their outgoings, entities can optimize their resources, reduce costs, and improve overall financial performance.
In summary, outgoings refer to the expenditures or costs incurred by an individual, business, or organization in order to sustain operations. They encompass both fixed and variable expenses, and effective management of outgoings is essential for financial stability and success.
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• Opposed to incoming, as outgoing tenant.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Common Misspellings for OUTGOINGS
Etymology of OUTGOINGS
The word "outgoings" has two different meanings, so its etymology can vary depending on the context.
1. As a noun, "outgoings" refers to expenses or expenditures. In this sense, it is derived from the verb "outgo", which dates back to the 14th century and means "to go beyond" or "to surpass". The term "outgoings" originated in the early 17th century, combining "out" (indicating movement away) and "goings" (from "outgo"), to specifically describe the act of money flowing out or being spent.
2. As a plural form of the noun, "outgoings" can also refer to people leaving a particular place. In this case, the word is derived from the verb "outgo", meaning "to depart" or "to leave".
Similar spelling word for OUTGOINGS
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