Impact of Transactions Involving Contingent Liabilities on Statement of Cash Flows From the following list, identify whether

Question:

Impact of Transactions Involving on Statement of Cash Flows From the following list, identify whether the change in the account balance during the year would be reported as an operating (O), an investing (I), or a financing (F) activity or not separately reported on the statement of cash flows (N). Assume that the indirect method is used to determine the cash flows from operating activities.
____________ Estimated liability for warranties
____________ Estimated liability for product premiums
____________ Estimated liability for probable loss relating to litigation

Contingent liabilities
A contingent liability is an obligation of business related to an uncertain future event. The business must record it in its financial statements if the amount can be reliably estimated and it is probable that amount will be paid by business as a...