Question

Expenses which are due but not paid at the end of the year. Answer in a word / phrase / term.

Answer 1

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⏩Outstanding Expense

Answer 2

Answer:

Outstanding expenses.

Explanation:

These expenses are the expenses which have been incurred during the year and their benefits have been derived during the year but their payment is yet to be done.

Outstanding expenses are treated as a liability for the business and these expenses are a personal account of the business or the firm.