Which of the Following Is Not a Characteristic of an Estimated

question 71

Multiple Choice

Which of the following is not a characteristic of an estimated liability?

• A)The liability is known to exist.
• B)The precise dollar amount cannot be determined until a later date.
• C)The liability should not be recorded in the accounting records until future events have determined the exact amount.
• D)The liability stems from past transactions.

---

Definitions:

360-Degree Feedback

A performance appraisal method where an employee receives anonymous feedback from peers, subordinates, supervisors, and sometimes clients to gain a comprehensive view of their performance.

Glass Ceiling

An unseen barrier preventing minority groups, especially women, from rising to the upper rungs of the corporate ladder, regardless of qualifications or achievements.

Promotion

The advancement of an employee's rank or position in a company, often accompanied by improved benefits, higher salary, and increased responsibilities.

Psychological Tests

Standardized measures designed to assess various aspects of people's mental functions and behaviors.