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Accrue
To record an item in the accounting books when using the accrual method of accounting For example, you accrue income when the customer signs a contract, even though you won't receive any cash at that time When you accrue an item of income or expense can depend on a number of factors including the entity's procedures IRS requirements here frequently diverge from accounting rules
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Accounting
- Category: Tax
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