Which of the following is NOT a liability of known amount?
A)Accounts payable
B)Income tax payable
C)Warranty payable
D)GST payable

Name: Which of the following is NOT a liability of known amount? A)Accounts payable B)Income tax payable C)Warranty payable D)GST payable
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Warranty payable is not a liability of known amount because it is an estimate of future costs to repair or replace products under warranty, and the exact amount is uncertain.

Which of the Following Is NOT a Liability of Known