Liability In Accounting

Estimated liability is considerably more common for many accountants, with most obligations falling under this category. Estimated liability is the predicted amount that is owed, weather month to month or day to day, and requires calculations to estimate properly. Using the same example as earlier, a business which rents property but has to pay for its own electricity will judge the amount used, and estimate the monthly value as a liability. Using the same example as earlier, a business which rents property but has to pay for its own electricity will judge the amount used, and estimate the monthly value as a liability.

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