Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 19 - No. 20)
Which of the following is an example of accrued expense?
Rent paid in advance.
Utilities bill received, but not yet paid.
Cash collected for a service to be performed.
Office supplies purchased for cash.
Explanation
Accrued expenses are for the period in which services were used and/or consumed, but for which cash was not yet paid.
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