Examlex
If wings, feathers, and a beak are required for something to be a bird, category membership is based on:
Contingent Liabilities
Possible obligations that may arise in the future due to past events, depending on the occurrence of certain uncertain events.
Unearned Revenues
Income received by a company for goods or services yet to be delivered or performed.
Liability Uncertainty
Liability uncertainty involves not knowing the exact amount or timing of future outflows due to existing obligations.
Sales Taxes Payable
Current liabilities on a company’s balance sheet, representing taxes collected from customers on behalf of governmental authorities which are yet to be remitted.
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