Accrued expenses are:
A) incurred but not yet paid or recorded.
B) paid and recorded in an asset account after they are used or consumed.
C) paid and recorded in an asset account before they are used or consumed.
D) incurred and already paid or recorded.

Question

Quizplus · Accepted Answer

Accrued expenses are costs that have been incurred but not yet paid or recorded in the financial statements. They represent obligations that a company needs to settle in the future.

Accrued Expenses Are