Recording Wages Payable would be an example of a(n):
A)deferred expense.
B)deferred revenue.
C)accrued expense.
D)accrued revenue.

Question

Quizplus · Accepted Answer

Wages Payable is an accrued expense, which means it is an expense that has been incurred but not yet paid. Accrued expenses are recorded as liabilities on the balance sheet because they represent an obligation to pay for goods or services received in the past.

Recording Wages Payable Would Be an Example of A(n)