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(Solved by Expert Tutors) Match each situation with its classification of liability or commi


Match each situation with its classification of liability or committment.


Question 31

options:

12345

Product warranty

12345

Current portion of long-term debt

12345

Purchase agreement

12345

Accounts payable

12345

Liability for vacation pay

12345

Dividend to be declared in future

12345

Payroll liabilities

12345

Discounted note receivable

12345

Lawsuit filed against the company

12345

Guarantee of debt for other company

12345

Unearned revenues

12345

lease agreement

1.

contingent liability

2.

definitely determinable liability

3.

estimated liability

4.

commitment

5.

not a liabililty or committment

 


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About this Question

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DATE ANSWERED

Apr 19, 2020

EXPERT

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