What are travel expenses?

Travel expenses refer specifically to the costs incurred by an individual or organization when traveling for business purposes. This includes expenses such as transportation (airfare, train tickets, car rentals), accommodation (hotel stays), meals while on travel, and other incidentals that arise during business trips. Understanding travel expenses is crucial for accurate accounting and budgeting within a business, as these costs can significantly impact overall financial planning.

The other choices do not accurately define travel expenses. Expenses associated with employee salaries pertain to payroll and are unrelated to travel. Funds allocated for business operations cover a broader range of financial aspects necessary for running a company, not limited to travel. A type of travel insurance provides coverage for various travel-related risks but does not define the travel expenses themselves. Thus, the costs specifically related to travel activities fulfill the definition accurately.