Expenses incurred but not yet paid or recorded are called

Question

Quizplus · Accepted Answer

Expenses that are incurred but not yet paid or recorded are called accrued expenses. These expenses are recognized as liabilities on the balance sheet and typically include items such as salaries owed to employees, rent due to landlords, and interest owed to lenders. Accrued expenses are important to include in financial statements to accurately reflect a company's financial position and performance.

Expenses Incurred but Not Yet Paid or Recorded Are Called