What term refers to an expense that is matched with revenues in the accounting period but not yet paid?

The term that refers to an expense matched with revenues in the accounting period but not yet paid is known as an accrued expense. This concept is part of the accrual basis of accounting, where expenses are recognized when they are incurred, regardless of when the cash payment is made.

For example, if a business acknowledges that it has incurred utility expenses for the month of March but has not yet received the bill or processed payment by the end of that month, those expenses would still be recognized in the financial statements for March. This matching of expenses with revenues helps ensure that the financial statements accurately reflect the company's financial position and performance for that period.

In contrast, deferred expenses refer to costs that have been paid but not yet incurred, operating expenses are general costs associated with running the business, and fixed expenses are costs that do not fluctuate with levels of production or sales. Each of these categories serves a different function in financial accounting and does not specifically address the situation of expenses that are incurred but not yet paid.