Which of the Following Liabilities Requires the Use of an Estimate

question 27

Multiple Choice

Which of the following liabilities requires the use of an estimate when it is initially recorded?

• A) Wages Payable
• B) Unearned Revenue
• C) Warranty Obligation
• D) Accounts Payable

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Definitions:

Displacement

In psychology, the redirection of emotions or reactions from the original source to another target; in physics, the change in position of an object.

Negativism

A tendency to be overly critical, pessimistic, or resistant to suggestions and positive changes, often leading to a counterproductive environment.

Cross-Functional Teams

Groups composed of members from different departments or areas of expertise, working together towards a common goal.

Organizational Conflict

The disagreement or discord that arises within an organization, typically due to differing interests, beliefs, or goals among its members.