Expenses which have been incurred in the accounting period but not paid till the end of the accounting period are called __________.
A. Outstanding expenses
B. Prepaid expenses
C. Accrued income
D. Income received in advance
Answer:A
Expenses which have been incurred in the accounting period but not paid till the end of the accounting period are called __________.
A. Outstanding expenses B. Prepaid expenses C. Accrued income D. Income received in advance