Estimated liabilities commonly arise from:
A) Warranties.
B) Vacation benefits.
C) Income taxes.
D) Employee benefits.
E) All of these.

Question

Quizplus · Accepted Answer

Estimated liabilities can arise from all of the options listed. Warranties, vacation benefits, income taxes, and employee benefits are all examples of potential financial obligations a company may face, and therefore must estimate and report as liabilities on their financial statements.

Estimated Liabilities Commonly Arise From