Accrued liability

Accrued liabilities are those expenses or losses that have been incurred but not paid by the business. Examples include wages payable, salaries payable, electricity expenses. Such an expense should be treated in accordance with accrual concept 

Nature of these expenses 
These expenses are liability of the business firms

Accrual Concept
An accounting concept under which revenues and costs or expenses are accrued that are recorded as they are earned or incurred and they are not recorded when money paid or received

If business purchase goods on credit it should record this transaction at the date of purchase not the time of repayment of money it owes