Accrued expenses originate from:
A) previously unrecorded expenses that have been incurred but not yet paid in cash.
B) items paid in advance, but not incurred.
C) collecting cash from customers.
D) paying off liabilities.

Question

Quizplus · Accepted Answer

Accrued expenses are expenses that have been incurred but have not yet been paid or recorded in the accounts. This means that the expense has been recognized for accounting purposes, but the effect on the company's financial statements has not yet been recorded. Examples of accrued expenses include salaries and wages, interest, and taxes.

Accrued Expenses Originate From