An expense that has been incurred but not yet paid is called a(n)________.
A) accrued revenue
B) deferred expense
C) deferred revenue
D) accrued expense

Question

Quizplus · Accepted Answer

An expense that has been incurred but not yet paid is called an accrued expense. Accrued expenses are recognized on the income statement even though they have not been paid yet. Examples of accrued expenses include salaries payable, interest expense, and taxes payable.

An Expense That Has Been Incurred but Not Yet Paid