Which of the following typically is NOT classified as an accrued liability?
A) state employment taxes
B) monthly sales tax owed to the city
C) monthly mortgage payments
D) federal employment taxes

Question

Quizplus · Accepted Answer

Accrued liabilities typically include expenses that have been incurred but not yet paid, such as taxes and wages. Monthly mortgage payments, however, are considered a regular debt payment rather than an accrued liability, as they are fixed payments on a loan rather than expenses incurred from ongoing operations.

Which of the Following Typically Is NOT Classified as an Accrued