An estimated liability is a known obligation of an uncertain amount that can be reasonably estimated.

Name: An estimated liability is a known obligation of an uncertain amount that can be reasonably estimated.
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An estimated liability is defined as a known obligation of an uncertain amount that can be reasonably estimated. This means that although the exact amount of the obligation may not be certain, there is enough information available to make a reasonable estimate.

An Estimated Liability Is a Known Obligation of an Uncertain