Accrued liabilities:

Question

Quizplus · Accepted Answer

Accrued liabilities refer to expenses that have been incurred but not yet paid. This indicates that the services have been received by the company before payment has been made, which makes option C the correct choice. Option A is incorrect because accrued liabilities are paid in cash, not services. Option B is incorrect because it implies that payment was made before the service was received, which is not the case with accrued liabilities. Option D is incorrect because accrued liabilities are expenses, not deferred charges to expense.

Accrued Liabilities