Which of the Following Is an Accrued Expense

question 24

Multiple Choice

Which of the following is an accrued expense?

• A)depreciation
• B)employees' salaries
• C)interest revenue
• D)rental expense paid three months in advance

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Definitions:

Stare Decisis

A legal principle that obligates courts to follow historical cases when making a ruling on a similar current or future case.

Common Law

A legal system based on custom, court rulings, and precedent rather than statutory laws.

French System

Describes the legal system primarily used in France and countries formerly part of the French colonial empire, characterized by civil law principles.

Common Law Courts

Courts that decide cases based on common law, which consists of judicial precedents and statutes as opposed to statutory or regulatory laws.