Question: An obligation dependent upon an event that has not yet occured is an example of? A. Contingent Liability B.Accrued Liability C.Known Libility D. Estimated Libility

An obligation dependent upon an event that has not yet occured is an example of?

A. Contingent Liability

B.Accrued Liability

C.Known Libility

D. Estimated Libility

A companyy signs a note payable for $3,500 at 9% for 45 days. How much interest ( to the nearst cent) will the company owe using a 360-day year?

Utilize the ______ principle to estimate warrenty Liabilities

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