Which of the following is NOT an example of an estimated liability?
A) contingencies
B) employee benefits
C) payroll deductions
D) warranties

Question

Quizplus · Accepted Answer

Payroll deductions are not considered estimated liabilities because they represent actual amounts owed to employees, rather than estimates of potential future liabilities. Contingencies, employee benefits, and warranties can all involve estimates of future liabilities that must be recorded in a company's financial statements.

Which of the Following Is NOT an Example of an Estimated