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Explain the conditions a company is required to accrue a liability for the following items: Compensated Absences Sick Leave Contingent Liability Asset Retirement Obligation Dividends

Explain the conditions a company is required to accrue a liability for the following items:

  1. Compensated Absences
  2. Sick Leave
  3. Contingent Liability
  4. Asset Retirement Obligation
  5. Dividends
  6. Special Employee Bonuses

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