ABC Company determined that it has an obligation relating to employees’ rights to receive salaries for future absences, arising from services already rendered. This obligation is related to vesting rights, and payment for future absences is probable. At year-end, the obligations are reasonably estimated as follows: ·       Vacation Pay: 1,100,000 ·       Sick Pay: 900,000 How much should be reported as liability for compensated absences? A. Zero B. P 900,000 C. P 1,100,000 D. P  2,000,000

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