accrued expense

noun

1. an expense incurred but not yet paid, as accrued interest on notes payable.

Word History and Origins

Origin of accrued expense¹

First recorded in 1980–85

Example Sentences

Because X will not pay the liability until 2016, it cannot deduct the accrued expense for tax purposes in 2015.

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Because X will not pay the liability until 2016, barring an exception, it cannot deduct the accrued expense for tax purposes in 2015.

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In general, when an accrued expense is deductible for tax purposes is governed by Section 461.

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