is accrued expense is asset or liability

Categories >> Accounting >> Accounting AllOther
Suggest New Category

Question Posted / guest

5 Answers
17182 Views
Franklin Templeton, I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

is accrued expense is asset or liability..

Answer / john agbelengor

ACCRUED EXPENSE IS A LIABILTY.
THIS IS BECAUSE IT IS AN EXPENSE INCURED IN THE PREVIOUS
ACCOUNTING PERIOD AND WAS DUE FOR PAYMENT BUT HAS NOT BEEN
DONE

Is This Answer Correct ?

45 Yes

4 No

is accrued expense is asset or liability..

Answer / soniya

Accrued Expense is an expense that is incurred, but not yet
paid for, during a given accounting period. Hence, it is a
current liability.
Accrued expenses are the opposite of prepaid expenses.

Is This Answer Correct ?

22 Yes

0 No

is accrued expense is asset or liability..

Answer / izi

Accrued expense is opposite to prepaid expense.
Actually accrued expense is the expense whose benefit has been taken but such expenses has not been paid yet(in the form of cash or cheque). So, we treat we treat it as current liability.

Is This Answer Correct ?

12 Yes

0 No

is accrued expense is asset or liability..

Answer / swathi

accrued expense is a liability which is not yet paid. which
we have to pay now thus it is a liabilitie.

Is This Answer Correct ?

13 Yes

3 No

is accrued expense is asset or liability..

Answer / guest

accrued expense is an asset