Which of the following is true about accrued liabilities?

Accrued liabilities refer to obligations that a company has incurred but has not yet paid for. These liabilities are recognized on the balance sheet and represent future cash payments that the company is required to make for goods and services that have already been received.

Wages payable is a common example of an accrued liability. Employees earn wages for their work, and these wages are often recorded as a liability until the company processes the payroll. This means that at the end of an accounting period, if the wages are due but not yet paid, they must be accrued to reflect the obligation in the company's financial statements accurately.

The other options do not correctly represent the nature of accrued liabilities. For instance, they are not always recorded as expenses immediately since they are recorded as liabilities until the payment is made. They do not represent anticipated gains in the future, as they specifically refer to future payments owed. Lastly, accrued liabilities are not considered assets at any point; rather, they are obligations that must be settled, contrasting with assets, which are resources owned by the company.