Question 27 2 pts Which of the following estimates are required when calculating depreciation expense? 1. Depreciation rate 2. Useful life 3. Expected maintenance costs 4. Salvage value 2, 3, and 4 1, 2, and 4 2 and 4 1, 2, 3, and 4 Question 28 2 pts According to U.S. GAAP, which criteria must be met in order to recognize a contingent liability? The obligation is estimable The obligation is probable and estimable The obligation is probable The obligation is certain to require payment at some point in the future Question 29 2 pts Which of the following is an example of an accrued liability? Bonds payable Wages payable Accounts Receivable Prepaid rent