Estimated liabilities are generally classified as long-term liabilities.

Name: Estimated liabilities are generally classified as long-term liabilities.
Brand: Quizplus
Rating: 4.9 (41 reviews)

Question

Quizplus · Accepted Answer

Estimated liabilities can be classified as either short-term or long-term based on the period within which they are expected to be settled. If the liability is expected to be settled within one year, it is classified as a short-term liability; if it is expected to be settled in more than one year, it is classified as a long-term liability.

Estimated Liabilities Are Generally Classified as Long-Term Liabilities