Difference between balance and cost

English as a Second Language English Teacher Explanations (ESL Tests)
1

Test No. [color=blue]incompl/advan-11 “Finance”, question 9

There is still an outstanding … on that account, which must be paid in 30 days.

(a) balance
(b) scale
(c) difference
(d) cost

Test No. [color=blue]incompl/advan-11 “Finance”, answer 9

There is still an outstanding balance on that account, which must be paid in 30 days.

Correct answer: (a) balance

Your answer was: [color=red]incorrect
There is still an outstanding cost on that account, which must be paid in 30 days.
[size=200]_________________________[/size]

Outstanding balance that must be paid?

2

Balance here is the sum of money which is the difference between what you have paid and what you still owe.

3

Balance means here the balance account. The balance account shows in the accounting:
a. Equality of totals in the debit and credit sides of an account.
b. The difference between such totals, either on the credit or the debit side.