Which of the following is most likely a definitely determinable liability during interim periods?
A) Estimated property tax payable
B) Accrued interest payable
C) Estimated product warranty liability
D) Estimated income taxes payable

Question

Quizplus · Accepted Answer

Accrued interest payable is a definite and certain obligation as interest accrues continuously over time. Therefore, it is most likely to be a definitely determinable liability during interim periods. The other options (estimated property tax payable, estimated product warranty liability, and estimated income taxes payable) involve estimates and uncertainties and may not be definitively determinable during interim periods.

Which of the Following Is Most Likely a Definitely Determinable