Which of the following accounts is most likely associated with an accrued expense?
A) Depreciation expense
B) Salaries Payable
C) Unearned revenue
D) Accounts Receivable
E) Service revenue

Question

Quizplus · Accepted Answer

An accrued expense is an expense incurred but not yet paid. Salaries Payable is a liability account that records wages owed to employees but not yet paid. Hence, it is the most likely account associated with an accrued expense. The other options listed are not associated with accrued expenses - Depreciation expense is a non-cash expense, Unearned revenue is a liability account that records revenue received but not yet earned, Accounts Receivable is an asset account that records money owed to the business by customers, and Service revenue is a revenue account that records income from services rendered.

Which of the Following Accounts Is Most Likely Associated with an Accrued