Which Statement Is Correct Under the IFRS Definition for a "Liability

question 79

Multiple Choice

Which statement is correct under the IFRS definition for a "liability"?

• A)The obligating event must be probable before the liability can be recognized.
• B)The obligating event must be virtually certain before the liability can be recognized.
• C)A reliable measure of the obligation must exist before the liability can be recognized.
• D)A precise measure of the obligation must exist before the liability can be recognized.

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Definitions:

Workaholics

Individuals who have a compulsion to work excessively and find it difficult to disengage from work and relax, often at the expense of personal relationships and health.

Core Characteristic

The essential or most important qualities that define a person, object, or concept.

Burnout

A syndrome of emotional exhaustion, cynicism, and reduced self-efficacy.

Memory Loss

Memory loss is the inability to recall or retain information; it can be temporary or permanent and can result from various causes, including disease, injury, or psychological trauma.