Assertion: expense | /r/HasProperty | recorded in the accounting period
Facets:
value: as the benefit
type: MANNER
value: according to generally accepted accounting principles
type: OTHER
Source sentences:
text: An accrued expense is an accounting term that refers to an expense that is recognized on the books before it has been paid; the expense is recorded in the accounting period in which it is incurred..
text: According to generally accepted accounting principles (GAAP), expenses should be recorded in the same accounting period as the benefit generated from the related asset.