Match each of the following current liabilities with its meaning.
-Amounts expected to be paid to repair or replace defective products.
A)Account payable
B)Note payable
C)Wages payable
D)Interest payable
E)Sales taxes payable
F)FICA taxes payable
G)Unemployment taxes payable
H)Unearned sales revenues
I)Estimated warranty liability

Question

Quizplus · Accepted Answer

Estimated warranty liability refers to the amount a company expects to pay to repair or replace defective products under warranty.

Match Each of the Following Current Liabilities with Its Meaning