What Are Estimated Liabilities? Cite at Least Two Examples and Explain

question 40

Essay

What are estimated liabilities? Cite at least two examples and explain why they are classified as estimated liabilities.

---

Definitions:

Peer Pressure

Influence from members of one's peer group to adopt certain behaviors, values, or conform to group norms.

Societal Norm

A pattern of behavior or belief that is accepted as normal within a society or group.

Cosmetic Procedures

Medical treatments aimed at enhancing or altering the appearance of the body without significant health reasons.

Middle-aged Women

Females in the mid-stage of life, typically considered to be between the ages of 40 and 65, facing various sociocultural and physiological changes.