Outrageously Funny Word Dictionary :: Incurment

👉 Incurment, in accounting terminology, refers to a situation where an entity owes money or obligations without payment. This can happen when an individual or company fails to repay a loan or other financial obligation, and the amount owed becomes due and payable over time. Incurments are often referred to as "incurring" because they involve the act of borrowing money in order to pay it back later on.

incurment