Question: 21.An estimated liability: Select one: a. Is an unknown liability of a certain amount. b. Is a known obligation of an uncertain amount that can

21.An estimated liability:

Select one:

a. Is an unknown liability of a certain amount.

b. Is a known obligation of an uncertain amount that can be reasonably estimated.

c. Is a liability that may occur if a future event occurs.

d. Can be the result of a lawsuit.

e. Is not recorded until the amount is known for certain.

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