accrued items


Passive: On a closing statement, items of expense that are incurred but not yet payable, such as interest on a mortgage loan or taxes on real property. Active: Expenses prepaid within the current business year which must be imputed to the new business year. A rent prepayment entitles the company to use its rented facilities during the new business year.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
accrued interest accrued items, active