Are most expenses liabilities, assets, or SHE?

Answer 1

Technically, none of the above.

In accounting, there is something called dual entry. For every credit, there is an equal amount debitted somewhere else. So for every asset (debit balance), there is an offsetting credit somewhere else. Expenses are debits, which means that there is an offsetting credit somewhere else.

Let's take an example. Let's say you have someone working for you for $100/day. After Day 1, you have incurred $100 wage expense (i.e. debit wage expense). You either pay them in cash (credit $100 cash balance) or you owe them ($100 wage payable liability).

In the end, all expenses are netted against revenues and are closed out to the shareholders' equity balance.