Benefit enjoyed for which payments have not been made are?
Question 1 Report
Benefit enjoyed for which payments have not been made are?
Answer Details
The benefits that have been received but not yet paid for are known as accruals. Accruals are expenses that a company has incurred but has not yet paid for. These expenses are recorded on the company's financial statements as a liability. Examples of accruals include salaries owed to employees, rent or utility bills that have been incurred but not yet paid, and interest expenses. Accrual accounting is an important part of financial reporting as it allows companies to record expenses and revenue when they are earned or incurred, regardless of when the cash is actually exchanged.
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