Indicate whether each of the following is a a definitely determinable liability b an estimated liability c a commitment or d a contingent liability: 

1). Dividends payable 

2). Pending litigation 

3). Income taxes payable 

4). Current portion of long term debt 

5). Vacation pay liability 

6). Guaranteed loans of another company 

7). Purchase agreement 

Answer rating: 100% (QA)

1 Dividends payable It is a determinable liability Any value of liability that can be calculated exa... View the full answer