All of the following are true of known liabilities except:
A) Include accounts payable, notes payable, and payroll.
B) Are obligations set by agreements, contracts, or laws.
C) May depend on some future event occurring.
D) Are definitely determinable.
E) Are measurable.

Question

Quizplus · Accepted Answer

Known liabilities are obligations that are definite and measurable, not contingent on future events.

All of the Following Are True of Known Liabilities Except