A Present Obligation,as One of the Criteria for Recognising a Liability,implies

question 39

Multiple Choice

A present obligation,as one of the criteria for recognising a liability,implies:

• A) There must be a legal obligation.
• B) A legally binding contractual arrangement between two parties: the entity and another party.
• C) The involvement of two separate parties: the entity and another party; of which the identity of the latter needs not necessarily to be known.
• D) The involvement of two separate parties: the entity and another party; of which the identity of the latter must be known.
• E) An obligation to make a donation or gift to another party.

---

Definitions:

Internal Clients

The individuals or departments within an organization that rely on the services or support of another within the same entity.

Positive Organizational Behavior

An area of study within organizational behavior that focuses on the application of positively oriented human resource strengths and psychological capacities to improve organizational outcomes.

Human Capital

The combined abilities, expertise, and non-physical assets of people that contribute to producing economic benefit for themselves, their workplaces, or the broader society.

Human Capital

The skills, knowledge, and experiences possessed by an individual or population, viewed in terms of their value or cost to an organization.