accrued expense

American  

noun

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

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Etymology

Origin of accrued expense

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.

From Forbes

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

From Forbes

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

From Forbes