Which of the following most likely is a definitely determinable liability during interim periods?
A)Estimated property tax payable
B)Accrued interest payable
C)Estimated product warranty liability
D)Estimated income taxes payable

Question

Quizplus · Accepted Answer

Accrued interest payable is a definitely determinable liability during an interim period because the amount owed is known and can be accurately recorded based on the interest rate and the amount of debt outstanding. The other options listed involve estimates and are subject to change before the end of the accounting period.

Which of the Following Most Likely Is a Definitely Determinable