Incurred but unpaid expenses that are recorded during the adjusting process with a debit to an expense and a credit to a liability are called
A)Operating expenses.
B)Unearned expenses.
C)Accounts payable.
D)Prepaid expenses.
E)Accrued expenses.

Question

Quizplus · Accepted Answer

The question describes accrued expenses, which are expenses that have been incurred by a company but have not yet been paid. These expenses are recorded with a debit to an expense account and a credit to a liability account, such as Accrued Expenses Payable.

Incurred but Unpaid Expenses That Are Recorded During the Adjusting