When Can a Non-Current Liability Not Be Derecognized

question 78

Multiple Choice

When can a non-current liability not be derecognized?

• A)When the company discharges the obligation or it expires.
• B)When the company pays the debt and continues to be liable for the liability.
• C)When the underlying debt contract is canceled.
• D)When the creditor provides the services specified in the debt contract.

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Definitions:

Adjourning

The final stage in Tuckman's group development model where the team completes its task and dissolves.

Storming Stage

The second phase in the Tuckman's model of team development, characterized by conflict and tension among team members as they assert their views.

Group Members

Individuals who belong to a defined collective or team, sharing common goals, responsibilities, or interests.

Compromise

Compromise is a negotiation strategy where conflicting parties make concessions to reach a mutually acceptable agreement.