Explain your understanding of what an accrued expense is by selecting the statements below which are correct $($Check all that apply.$)$

Adjustments involve increasing bothgan expense and a liability account.

They are reported on an income statement.

They are also called accounts receivable.

They refer to costs that are incurred in a period, but are both unpaid and unrecorded.

They refer to earnings which have been earned, but not yet billed.

Examples of accrued expenses are wages expense and interest expense.