Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 29 - No. 48)
Which of the following is an example of an accrued expense?
Rent paid in advance.
Utilities bill received but not yet paid.
Insurance paid for the next year.
Payment for services received and invoiced.
Explanation
An accrued expense is an expense that has been incurred but not yet paid.
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