All of the following are estimated liabilities except:
A)corporate income tax payable.
B)vacation pay payable.
C)employee income tax payable.
D)warranty payable.

Question

Quizplus · Accepted Answer

Employee income tax payable is not an estimated liability because it is a specific amount that is withheld from employees' salaries and is therefore known, not estimated. The other options (A, B, and D) involve amounts that the company must estimate.

All of the Following Are Estimated Liabilities Except