Indicate whether each of the following is (a) A definitely 1 answer below »

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

 

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