Indicate whether each of the following is (a) A definitely determinable liability, (b) An estimated liability, (c) A commitment, or (d) A contingent liability 1 Dividends payable 2 Pending litigation 3 Income taxes payable 4 Current portion of long term debt 5 Vacation pay liability 6 Guaranteed lo...

1 a A definitely determinable liability 2 d A contingent ...

Indicate whether each of the following is (a) A definitely determinable liability, (b) An estimated liability, (c)

Question:

Indicate whether each of the following is

(a) A definitely determinable liability,

(b) An estimated liability,

(d) A contingent liability:

1. Dividends payable

2. Pending litigation

3. Income taxes payable

4. Current portion of long-term debt

5. Vacation pay liability

6. Guaranteed loans of another company

7. Purchase agreement

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Principles Of Financial Accounting

ISBN: 9780538755160

11th Edition

Authors: Belverd E Needles, Marian Powers

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Question Posted: Feb 23, 2012 12:46 AM

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Indicate whether each of the following is (a) A definitely determinable liability, (b) An estimated liability, (c)

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Principles Of Financial Accounting

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