For each transaction select the type of adjustment that would be required. (Choices may be used more than once.)
-The employee salaries have been incurred but not paid at the end of the accounting period.

Question

Quizplus · Accepted Answer

This situation describes an accrued expense because the company has incurred the expense (employee salaries) but has not yet paid it by the end of the accounting period.

For Each Transaction Select the Type of Adjustment That Would