Meaning of the word "accrued liability" in English
What does "accrued liability" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
accrued liability
US /əˈkruːd laɪ.əˈbɪl.ə.ti/
UK /əˈkruːd laɪ.əˈbɪl.ə.ti/
Noun
an expense that has been incurred but not yet paid, recorded as a liability on a company's balance sheet
Example:
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The company recorded an accrued liability for unpaid wages at the end of the month.
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Understanding accrued liabilities is crucial for accurate financial reporting.
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