Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 20 - No. 13)
What is accrued expense?
An expense that has been paid in advance.
An expense that has been incurred but not yet paid.
An expense that is expected to be incurred in the future.
An expense that is not recorded.
Explanation
An accrued expense is an expense that has been incurred but not yet paid.
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