Accrued expenses are

A) paid and recorded in an asset account before they are used or consumed.
B) paid and recorded in an asset account after they are used or consumed.
C) expenses that have not yet been paid but have been incurred and have been recorded for the first time by an adjusting entry.
D) incurred and already paid or recorded.

Accrued Expenses

Expenses that have been incurred but not yet paid or recorded by the end of the accounting period.

Adjusting Entry

An accounting entry made at the end of an accounting period to record earnings or expenses that have occurred but are not yet entered in the accounts.

Asset Account

An account that shows the value of the assets a company controls, which can include cash, equipment, and real estate.