Which of the Following Characteristic Is Required for a "Liability

question 26

Multiple Choice

Which of the following characteristic is required for a "liability" under IFRS Framework?

• A)A past obligation.
• B)A present obligation.
• C)An unknown obligation.
• D)A future obligation.

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Definitions:

Biological Needs

Fundamental requirements that organisms need to maintain life, such as food, water, air, and shelter, which are essential for survival and physiological functioning.

Evolutionary Theory

A scientific explanation for the diversity of life on Earth, proposing that species change over time through processes like natural selection.

Genetically Predisposed

Indicates a higher likelihood of developing certain conditions or traits based on one's genetic makeup.

Richard Lazarus'

Associated with the psychology of emotion and stress, Lazarus developed the cognitive-mediational theory which suggests that the interpretation of an event is more important for the stress response than the event itself.