Question: Definitely determinable liability, estimated liability or neither For each item in the following list, tell whether it is a definitely determinable liability, an estimated liability,
Definitely determinable liability, estimated liability or neither
For each item in the following list, tell whether it is a definitely determinable liability, an estimated liability, or neither: Amount owed to vendor for purchase of inventory 1. 2. Potential proceeds from pending lawsuit Amount of warranty obligations Amount of loan payment due next year 3. 4 5. Amount of vacation pay to accrue for employees for next year Amount owed to vendor for purchase of inventory 1. 2. Potential proceeds from pending lawsuit 3. Amount of warranty obligations Amount of loan payment due next year 4. 5. Amount of vacation pay to accrue for employees for next year
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