Question 6 Contingent liabilities are potential liabilities that depend on two factors. What are the two factors? Dependability and consistency O Reliability and relevance O Probable and estimable Likely and remote Question 7 The journal entry a company uses to record the discard of machinery would include debit to accumulated depreciation O debit to depreciation expense O debit to amortization expense debit to machinery expense Question 12 Estimating warranty expense is necessary O To place the expenses in the same period as the revenue earned O To estimate net realizable value O To record the cost of doing business using credit O All of the above Question 15 Employers incur an expense for which of the following payroll taxes O FICA - Social Security O FICA - Medicare O State unemployment taxes O All of the above