Incurred what does it mean

In this scenario, the payment date is not the date in which the transaction occurred. The invoice issue date is not either.

The expense was incurred when FNC took possession of the dryer. They incurred an expense because they now owe the dryer company for the piece of equipment. This means that, the transaction must be recorded on August Define Incurred: Incur means to use a resource and record it in an accounting system.

Browse inculcating. Test your vocabulary with our fun image quizzes. Image credits. Word of the Day goodwill. Blog Outsets and onsets! Read More. November 08, To top. English American Business Examples Translations. Sign up for free and get access to exclusive content:.

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Sign up now or Log in. Definitions Clear explanations of natural written and spoken English. Click on the arrows to change the translation direction. Follow us. Choose a dictionary. Clear explanations of natural written and spoken English. Incur vs. Occur Incur bears a strong family resemblance to another English verb, occur.

Examples of incur in a Sentence Submitting students to the rigors of learning seemed only to incur the wrath of many of them … — Ben Marcus , Time , 8 Jan. Recent Examples on the Web Despite the colossal investment that manufacturers incur on research and development, your tires are only good at doing one of those things at a time.

Wu, The Atlantic , 27 Sep. Erickson, The Indianapolis Star , 16 Oct. First Known Use of incur 15th century, in the meaning defined above. Learn More About incur. Time Traveler for incur The first known use of incur was in the 15th century See more words from the same century. Style: MLA. More Definitions for incur. Kids Definition of incur. Legal Definition of incur. Get Word of the Day daily email!