Accrued liabilities, such as interest payable, would be considered a(n):
A)contingent liability.
B)estimated liability.
C)known liability.
D)unknown liability.

Name: Accrued liabilities, such as interest payable, would be considered a(n): A)contingent liability. B)estimated liability. C)known liability. D)unknown liability.
Brand: Quizplus
Rating: 4.7 (33 reviews)

Question

Quizplus · Accepted Answer

Accrued liabilities are known liabilities because they are amounts that have been incurred but not yet paid or recorded.

Accrued Liabilities, Such as Interest Payable, Would Be Considered A(n)