Question

which of the following does not result in an estimated liability? multiple choice warranties. vacation benefits. pension benefits. bonuses. unearned revenues.

Answer 1

Option E. Unearned revenues does not result in an estimated liability

What types of estimated liabilities are there?

Bonuses, vacation days, health and pension benefits, and warranty obligations are a few examples of estimated liabilities. For the anticipated future provision of goods and services, an estimated expense is recorded at the same time as income, and an estimated liability is recorded.

The estimated liability can be defined to be the kind of obligation that a person would have which has no definite amount and has to be made through the use of estimates.

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