Incurred Expenses

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Definitions
Accrual Basis
Accrual Basis Accrual Method Accounting Taxable Income Expense Earned Income Incurred Expenses
Accrual Basis or Accrual Method is an accounting method whereby income and expense items are included in taxable income or expense as they are earned or incurred, even though they may not yet have been received or actually paid in cash.
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