Which of the following is an accrued liability? a. Amounts owed for inventory purchases b. All...
Which of the following is an accrued liability?
a. Amounts owed for inventory purchases
b. All of these are accrued liabilities
c. Deposits received in advance
d. Wages owed for the period`
Homework Answers
An accrued liability is an expense that a business has incurred but has not yet paid.
Here, wages owed for the period refer to the amount of liability remaining at the end of a reporting period for wages that have been earned by hourly employees but not yet paid to them.
Hence, option d. is correct.
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