The general term employed to indicate an expense that has not been paid and has not yet been recognized in the accounts by a routine entry is
A) capital
B) deferral
C) accrual
D) inventory

Question

Quizplus · Accepted Answer

The general term for an expense that has not been paid and has not yet been recognized in the accounts is an accrual. A deferral refers to an expense that has been paid but has not yet been recognized in the accounts, while inventory refers to goods or materials held for sale. Capital refers to funds invested in a business.

The General Term Employed to Indicate an Expense That Has