Why are each of the following items classified as liabilities: provision for warranty, provision for long service
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Why are each of the following items classified as liabilities: provision for warranty, provision for long service leave, unearned revenue, GST payable and income tax deductions due?
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Each of the items youve mentioned is classified as a liability because they represent obligations or amounts owed by a company to external parties Lia...View the full answer
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Mark Odhiambo Odero
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Related Book For 
Financial Accounting An Integrated Approach
ISBN: 9780170411028
7th Edition
Authors: Ken Trotman, Elizabeth Carson
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