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What do you mean by Accrued Expenses ?
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Answer / sunny
Accrued expenses are those expenses actually incurred but,
yet to be paid for by the business. They are also provided
for and adjusted in the financial statement.
| Is This Answer Correct ? | 38 Yes | 1 No |
Answer / shinu
these are the expenses which are incurred during the period
but not paid, before the end of the reporting period
| Is This Answer Correct ? | 12 Yes | 4 No |
Answer / sarika
Accrued expenses means 'yet to be paid'the expenses already
occured but still v hv to pay them these cum under
liabilities side.
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / sgudo
accrued expenses are expenses that are owed by the
business,they are outstanding they still need to be paid
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / ruchi
Accrued expenses are those expenses actually incurred but,
yet to be paid for by the business. They are also provided
for and adjusted in the financial statement.
Accrued expenses or liabilities are shown under the current
liabilities in the balance sheet. To record accrued
expenses, a company debits (increases) an expense account
and credits (increases) a liability account. These
adjusting journal entries recognize expenses incurred but
not yet paid (i.e. obligation or liability). If the company
does not make such an adjusting entry, expenses (in the
income statement) as well as current liabilities (in the
balance sheet) will be understated, while equity will be
overstated, as the result.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / kiran
Accrues Expenses are the expenses which is yet to paid, but
we have just made the adjustment in current period to
calculate the NAV
| Is This Answer Correct ? | 3 Yes | 4 No |
Answer / guest
Accrued expenses are the expenses which had been incurred
but not reported in the books at this time but will be
reported in the later part
| Is This Answer Correct ? | 7 Yes | 9 No |
Answer / joby
Accrued Expenses means we have to pay but utill we didnt
pay . those expenses are considered accured expenses
| Is This Answer Correct ? | 1 Yes | 3 No |
Answer / suresh
Those expenses which is paid in advance but not utilise
during the accounting period is known as accrued expenses.
| Is This Answer Correct ? | 0 Yes | 11 No |
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