Which of the Following Characteristic Is Required for a "Liability

question 19

Multiple Choice

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

• A)Arises from a past transaction.
• B)Arises from a non-financial transaction.
• C)Arises from a future transaction.
• D)Arises from a forecasted transaction.

---

Definitions:

Bodily Integrity

The right of individuals to autonomy and self-determination over their own bodies without external coercion or interference.

Social Affiliation

The process of connecting or associating with others in a social context, often for mutual benefit or comfort.

Treat Newborns

The medical and care practices involved in ensuring the health and well-being of newly born infants.

Cost

The expenditure of resources, such as money, time, or effort, incurred in the pursuit or acquisition of goods, services, or outcomes.