Question

Describe the reason that accrued expenses often require adjusting entries but not in every situation. g

Answer 1

Answer:

Following are the solution to the given question:

Explanation:

Accrued Expenses:

The expenses accumulated were costs pending only at the conclusion of the financial day to be paid. Your financial reports would be made around an accrual basis, meaning the revenue would be booked appropriately without receiving the money. Likewise, the costs incurred during the existing fiscal year will be booked irrespective of if they're not paid.

Usually, know that such a cost is incurred only at end of the fiscal year until we have been paid.

When at the conclusion of a fiscal year we won't receive this bill, therefore the costs will have to be modified directly. In case the payment is not received.