Accrued Liabilities, Such as Interest Payable, Would Be Considered A(n)

question 33

Multiple Choice

Accrued liabilities, such as interest payable, would be considered a(n) :

• A)contingent liability.
• B)estimated liability.
• C)known liability.
• D)unknown liability.

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Definitions:

Provisional Credit

Temporary credit issued by a bank to an account holder's account, pending investigation or finalization of a transaction.

Deposits

Funds placed into a bank account for safekeeping or as a pledge as part of a financial transaction.

Certified

Officially recognized as possessing certain qualifications or meeting specific standards.

Forges

The act of illegally copying or fabricating something, usually documents, artwork, or currency, with the intent to deceive.