An Example of an Accrued Expense Is

question 39

Multiple Choice

An example of an accrued expense is

• A) Interest accrued on a note receivable
• B) Interest accrued on a note payable
• C) Unearned revenue
• D) Accounts receivable

---

Definitions:

Minimum Wage

Minimum wage is the lowest legal remuneration that employers are allowed to pay their workers, established by government laws.

Quantity Demanded

The total amount of a good or service that consumers are willing to buy at a given price level in a given period.

Labor

The human effort, both physical and mental, used to produce goods and services.

Equilibrium Wage

The wage rate at which the quantity of labor employers are willing to hire equals the quantity workers are willing to supply, with no excess demand or supply.