Incurred but Unpaid Expenses That Are Recorded During the Adjusting

question 37

Multiple Choice

Incurred but unpaid expenses that are recorded during the adjusting process with a debit to an expense and a credit to a liability are called

• A) Operating expenses.
• B) Prepaid expenses.
• C) Unearned expenses.
• D) Accounts payable.
• E) Accrued expenses.