Expenses incurred but unpaid that are recorded during the adjusting process with a debit to an expense and a credit to a liability are:
A)Intangible expenses
B)Prepaid expenses
C)Unearned expenses
D)Net expenses
E)Accrued expenses

Question

Quizplus · Accepted Answer

The expenses incurred but unpaid that are recorded with a debit to an expense and a credit to a liability during the adjusting process are referred to as accrued expenses. This is because they are expenses that have been incurred but are yet to be paid or settled. Examples of accrued expenses include salaries and wages payable, interest payable, and utilities payable.

Expenses Incurred but Unpaid That Are Recorded During the Adjusting