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accrued expense
noun
- an expense incurred but not yet paid, as accrued interest on notes payable.
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Word History and Origins
Origin of accrued expense1
First recorded in 1980–85
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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
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