accrued expense is an expense that:
A) the business has paid, but not yet incurred.
B) will be incurred and paid in the future.
C) the business has incurred, but not yet paid.
D) has been paid and incurred.

Question

Quizplus · Accepted Answer

Accrued expenses are expenses that a business has incurred but has not yet paid. This concept is part of the accrual basis of accounting, where transactions are recorded when they are incurred, not necessarily when cash is exchanged.

Accrued Expense Is an Expense That