Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 38 - No. 15)
What does the term 'accrued expenses' refer to?
Expenses that have been paid in advance.
Expenses that have been earned, but the company has not paid for.
Revenues that have been earned, but not yet received.
Expenses that are being paid next month.
Explanation
Accrued expenses are expenses incurred but not yet paid.
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