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Discuss the term income taxes payable

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Reference no: EM131561639

Question: 1. Dividends payable-(b) an estimated liability

2. Pending litigation-(d) a contingent liability

3. Income taxes payable-(a) a definitely determinable liability

4. Current portion of long-term debt-(c) a commitment

5. Vacation pay liability-(b) an estimated liability

6. Guaranteed loans of another company-(a) a definitely determinable liability

7. Purchase agreement-(d) a contingent liability

Reference no: EM131561639

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