Q307
The expenses that have fallen due for payment but not paid are
A.
Outstanding expenses
AnswerB.
Deffered expenses
C.
Accrues expenses
D.
Prepaid expenses
Answer: Option A
Solution
Answer: Option A
Solution:
The expenses that have fallen due for payment but not paid are Outstanding expenses. Outstanding expenses are those expenses which have been incurred during the current accounting period and are due to be paid, however, the payment is not made.