which of the following describes an accrued liability? a. it is an expense that has been...
which of the following describes an accrued
liability?
a. it is an expense that has been prepaid but not yet
consumed
b. it is a liability where the cash flow has taken place but the
revenue has yet to be earned
c. it is an expense that has been both incurred and paid
d. it is an expense that has been incurred but not yet paid
Homework Answers
Answer:
Accrued Liability is a liability created due to non payment either for expense incurred or asset purchased.The whole idea of accrued liability is to provide evidence for amount due to creditors.
Therefore "d. it is an expense that has been incurred but not yet paid "
accurately describes and accrued liability.
Add Answer to:
which of the following describes an accrued
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