Which of the Following Is Not a Characteristic of a Liability

question 10

Multiple Choice

Which of the following is not a characteristic of a liability?

• A) obligation always arises from past events
• B) probably requires future sacrifice of resources
• C) requires sacrifice of cash or other current asset in the current period
• D) present obligation

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Definitions:

Myth Of Superabundance

The belief that natural resources are unlimited and can support endless growth and consumption, which is now widely recognized as unsustainable due to finite resource availability.

Early Colonists

The first group of settlers or inhabitants in a new area, establishing a colony.

Spaceship-Earth

A metaphorical concept suggesting that Earth is like a spacecraft with limited resources that must be shared and protected by its inhabitants.