All of the following are estimated liabilities except
A)liability for vacation pay.
B)payroll liabilities.
C)product warranty liability.
D)property tax liability.

Question

Quizplus · Accepted Answer

Payroll liabilities are not estimated liabilities because they are known amounts that a company owes to its employees for work that has already been performed. Unlike vacation pay, product warranty liabilities, or property tax liabilities, which may require estimation based on future events or assessments, payroll liabilities are typically precise and can be calculated based on hours worked and agreed-upon rates of pay.

All of the Following Are Estimated Liabilities Except