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:

Receptive Stranger

A term that is not widely recognized or established; could refer to an individual's openness to interacting with unfamiliar people. NO

Even Tempered

Having a calm, stable, and balanced temperament, not easily disturbed or agitated.

Extremely Active

Describes a high level of physical or mental activity, often beyond what is considered typical or average.

Extraversion/Surgency

A personality trait characterized by high levels of energy, sociability, talkativeness, and a tendency towards seeking stimulation and company.