Which of the following would be considered an estimated liability?
A)Notes payable
B)Warranties payable
C)Pending litigation
D)Sales tax payable

Name: Which of the following would be considered an estimated liability? A)Notes payable B)Warranties payable C)Pending litigation D)Sales tax payable
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Warranties payable are considered an estimated liability because the exact amount and timing of the liability are uncertain and must be estimated based on historical data and other factors.

Which of the Following Would Be Considered an Estimated Liability