An accrued expense is an expense incurred in the current period that will be paid in a future period.

Name: An accrued expense is an expense incurred in the current period that will be paid in a future period.
Brand: Quizplus
Rating: 4.7 (46 reviews)

Question

Quizplus · Accepted Answer

An accrued expense is a liability created when a business incurs an expense in the current period but has not yet paid for it. It represents an obligation to pay for goods or services received in the future.

An Accrued Expense Is an Expense Incurred in the Current