Explain your understanding of what an accrued expense is by selecting the statements below which are correct.

They are reported on an income statement.

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

Examples of accrued expenses are wages expense and interest expense.

Adjustments involve increasing both an expense and a liability accolnt.

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

They are also called accounts receivable.