An accrual is best defined as:

A) A completed transaction that results in a liability
B) An accumulation of a liability in regard to an incomplete transaction
C) A completed transaction that results in an asset
D) Any liability that has not been paid

Accrual

Accrual is an accounting method where revenues and expenses are recorded when they are earned or incurred, regardless of when cash is exchanged.

Liability

A liability is a company's financial debt or obligation that arises during the course of business operations, listed on the right-hand side of the balance sheet.

Asset

Resources with economic value owned by an individual, corporation, or country, expected to provide future benefits.