--%>
Assignment Help - homework help

Accrued liability

 

Usually a liability on the balance sheet that shows up because the company had to take an expense and record it on the income statement before the payment was due. A common example is utilities. A company has to include the phone, gas, and electric expense for December in the annual income statement, but the bill does not have to be paid until January. The agglomerate depreciation company records the budget, reducing income, and then, rather than reducing cash, increases the acquired liability on the balance sheet. In January when the company pays the bill, the liability and cash are minimized 

 

 

   Related Questions in Managerial Accounting

  • Q : What is Outcome Outcome : The outcomes

    Outcome: The outcomes of a program activity as compared to its intended aims. Program outcomes might be computed in terms of service or product quality and quantity, customer satisfaction, and usefulness.

    		•
  • Q : Main users of the accounting information

    Briefly list out the main users of the accounting information which are related to the business?

    		•
  • Q : Define Process and Process Costing

    Define Process and Process Costing: Process: The organized process of transforming inputs (that is, people, equipment, techniques, materials, and atmosphere), to outputs (that is, products or servi

    		•
  • Q : Explain Full-Absorption Costing

    Full-Absorption Costing: It is a technique of costing that assigns (or absorbs) all labor, material, and service or manufacturing facilities and support costs to products or another cost objects. The costs assigned comprise those which do and do not d

    		•
  • Q : Key performance indicators or KPI What

    What do you mean by the term key performance indicators or KPI? Explain in brief?

    		•
  • Q : Banker’s acceptance A security that

    A security that starts as an instrument similar to as check, in which a customer asks the bank to pay the designated amount to a payee in the future. The bank accepts the order, becoming responsible for payment, because the customer has the money to back the check, an

    		•
  • Q : Changing business landscape What do you

    What do you mean by the term changing business landscape?

    		•
  • Q : What is Corporate Tax Corporate Tax :

    Corporate Tax: It is a levy placed on the gain of a firm, with different rates employed for various levels of gains. Corporate taxes are the taxes against profits earned by businesses throughout a given taxable period; they are usually applied to comp

    		•
  • Q : Define Unit Cost Unit Cost : The cost

    Unit Cost: The cost of a chosen unit of a good or service. Illustrations comprise dollar cost perton, machine hour, labor hour, and department hour.

    		•
  • Q : Define Variance Variance : The rate,

    Variance: The rate, amount, extent, or degree of change, or the divergence from a preferred state or characteristic.

    		•