What are the three important questions concerning the uncertainty of liabilities why?

The three importante questions concerning the uncertainly of liabilities are the “Whom to pay?”, “When to pay?” and “How much to pay?”. For the reason that in the liabilities it can involve uncertainty in whom to pay because a company can create a liability with a known amount when issuing a note that is payable to its holder. Through this a specific amount is payable to the note’s holder at a specified date but the company does not know who the holder is until the date. But despite this uncertainty the company reports this liability on its balance sheet. Secondly, there is uncertainty in when to pay hence in some cas, a company can have an obligation of a known amount to a known creditor but not when it must be paid. Lastly, it is the uncertainty in how much to pay since it happens that a company can be aware of an obligation but not know how much will be required to settle it.