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A liability that has been incurred but has not been recorded in the accounts is known as...?
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∙ 7y ago
An accrued liability
Melyssa Fadel
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A liability that has been incurred but has not been recorded in the accounts is known as?
An accrued liability
Expenses that have been incurred but have not been recorded in the accounts are?
Incurred Expenses also sometimes known as Accrued Expenses are expenses that a company incurs but has not yet paid. Unless the company in question uses Cash Basis Accounting, the transaction should be recorded immediately as a debit to the appropriate expense account and a credit to the appropriate payable account.It is an "unrecognized" expense until it is recorded, not necessarily paid.
What is the meaning of pledged receivables?
Pledged accounts receivable, also known as accounts receivable financing, is a type of secured short-term loan whereby the debt is recorded in the financial institution's accounts receivables account.
What is the meaning of outstanding liability?
The amount of liability which is yet to be paid as on the balance sheet date is known as outstanding liability
A cost that is previously incurred and irreversible is known as?
opportunity cost historical cost
Costs which are ascertained after they have been incurred are known as?
Costs which are ascertained after they have been incurred are know as "Historical Cost".
The recorded events of people are known as?
The recorded events of people is known as, "History".
What is the meaning of accounts?
Account recivable that cannot be collected are known as uncollective accounts
What are the costs incurred in the day to day operations of an organization called?
There are costs incurred in the dad to day operations of all businesses and organizations. These costs are known as operation expenses and operating costs.
What stage of accounting is known as accounts payable?
Accounts payable is money owed by a company to its creditors.
When were the Greek myths recorded who were some people that recorded them did they believe in the myths?
There are many written accounts of the myths, but one of the oldest and most well-known is the Theogony written by Heroditus in 7th or 8th century BC. It was from here that we know of the Titanomachy and the Gigantomachy, wars fought between the Olympians and the Titans and Giants.
What is gl account-?
GL stands for general ledger. This is where all the financial activity of a company is recorded. Within the GL, there are accounts. Each account houses a certain type of activity or category of assets (e.g. cash) or liabilities (e.g accounts payable).
