In order to be reported,liabilities must:
A)Be certain.
B)Sometimes be estimated.
C)Be for a specific amount.
D)Always have a definite date for payment.
E)Involve an outflow of cash.

Question

Quizplus · Accepted Answer

Liabilities can sometimes be estimated, such as in the case of warranties or legal obligations, where the exact amount or timing may not be certain but can be reasonably estimated.

In Order to Be Reported,liabilities Must