Ask Question
22 March, 13:46

Which of the following is considered to be an accrued expense?

A. A computer technician has been paid in advance to install software updates as they become available.

B. A computer technician has just signed an agreement with you regarding pricing for future work.

C. A computer technician has installed the latest software updates, but you have not received an invoice or made payment.

D. A computer technician installed the latest software updates and was paid on the same day.

+5
Answers (1)
  1. 22 March, 16:07
    0
    C. A computer technician has installed the latest software updates, but you have not received an invoice or made payment.

    Explanation:

    Accrued expenses: The accrued expenses are those expenses in which the service is performed but the payment is not paid at the time of service. It is paid at the later date. It is considered as outstanding expenses

    The accrued expenses are a current liability which is shown under the liabilities side of the balance sheet.

    Hence, option c is correct and the rest options are wrong
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which of the following is considered to be an accrued expense? A. A computer technician has been paid in advance to install software ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers