An accrued liability is a liability for an expense that has not yet been paid.

Name: An accrued liability is a liability for an expense that has not yet been paid.
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An accrued liability is a true statement. It refers to a liability that has been incurred but not yet paid. It is also known as an accrued expense. Examples of accrued liabilities include salaries payable, interest payable, and taxes payable.

An Accrued Liability Is a Liability for an Expense That