Respond to this students post and say he great work What are accrued expenses? Accrued expenses are costs that a company/organization sustains before they have been paid out. Common accrued expenses include taxes owed to the government as well as wages payable to employees. They are not actively due but have to be accounted for in order to balance the financial statements. "Accrual accounting provides a more accurate financial picture than cash basis accounting" (Tardi, 2023). What are spontaneous liabilities? Spontaneous liabilities are expenses that constantly change and even are 'unexpected' sometimes. This includes accrued expenses that change depending on sales volume. These expenses also include the day-to-day operational expenses that are automatically accrued by simply 'being a business