The term, accrued wages, means that
A) expenses have not been incurred and not paid.
B) expenses have been incurred but not yet been recorded.
C) expenses have been incurred and paid.
D) none of the answers listed.

Question

Quizplus · Accepted Answer

Accrued wages mean that the expenses for wages have been incurred but not yet recorded, meaning they are not yet reflected in the financial statements. This typically occurs when the salary or wages for employees have been earned but not yet paid, such as at the end of a pay period.

The Term, Accrued Wages, Means That