What are contingent liabilities provide an example

Reference no: EM131342703

1. Provide examples of payroll taxes that are paid by the employee through reduction of their gross pay. Provide some examples of payroll taxes that are paid by the employer.

2. Why do unearned revenues and customers' deposits qualify as liabilities?

3. What are contingent liabilities? Provide an example.

4. Why is the liability for warranties recognized when products are sold rather than when the warranty services are performed?

Reference no: EM131342703

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