Which account balance is least likely to be based on an estimate?
A)Accounts Receivable
B)Property,Plant,and Equipment
C)Accounts Payable
D)Contingent Liabilities

Name: Which account balance is least likely to be based on an estimate? A)Accounts Receivable B)Property,Plant,and Equipment C)Accounts Payable D)Contingent Liabilities
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Question

Quizplus · Accepted Answer

Accounts Payable is typically based on actual invoices received and is not usually estimated, unlike the other options which often involve estimates.

Which Account Balance Is Least Likely to Be Based on an Estimate