Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 15 - No. 17)
In the context of accounting, what is accrued expense?
Revenue earned but not yet received.
An expense that has been paid in advance.
An expense that has been incurred but not yet paid.
Income received in advance.
Explanation
Accrued expense reflects a cost incurred but not yet settled with cash.
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