What is the meaning of incurred?

Question

What is the meaning of incurred?

Answer 1

It is imperative that when thousands of selfless volunteers respond to those who have incurred the wrath of a natural disaster

Answer 2

In Business & Finance, "incurred" means you owe (money usually), are obligated to pay, or are liable for,  for something you have done - but not necessarily paid for yet.  (In the double entry bookeeping sense for a business,  the other side of the entry is to record an expense for the obligation you have incurred.)

For example, when you call and order a pizza for take out, you have incurred an obligation to pay, you owe money.  And when you pick up the pizza, you pay the bill and have fulfilled your obligation.  In business, when you cut a purchase order, you owe money and are liable for the expense.  When you receive the goods, you pay and have fulfilled your obligation.

ps:  in the insurance world, it means claims filed by people and owed by the insurance companies, but not yet paid by them.

Answer 3

http://dictionary.reference.com/browse/i...

Answer 4

If you are talking about insurance, it would be money you spent.  You incurred and you spent.

Answer 5

Obtained or acquired, such as an obligation or expense. You incurred an obligation to pay when you charged your purchase on a credit card. You incurred an expense when you paid for the lunch you ate.