Accrued expenses are ordinarily reported on the balance sheet as
A) assets
B) liabilities
C) fixed assets
D) prepaid expenses

Name: Accrued expenses are ordinarily reported on the balance sheet as A) assets B) liabilities C) fixed assets D) prepaid expenses
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Question

Quizplus · Accepted Answer

Accrued expenses represent obligations that have been incurred but not yet paid for. Therefore, they are considered liabilities and are reported on the balance sheet as such.

Accrued Expenses Are Ordinarily Reported on the Balance Sheet as