All of the Following Statements Regarding Uncertainty in Liabilities Are

question 114

Multiple Choice

All of the following statements regarding uncertainty in liabilities are true except:

• A)Liabilities can involve uncertainty in whom to pay.
• B)A company can create a liability with a known amount even when the holder of the note may not be known until the maturity date.
• C)A company can have an obligation of a known amount to a known creditor but not know when it must be paid.
• D)A company only records liabilities when it knows whom to pay,when to pay,and how much to pay.
• E)A company can be aware of an obligation but not know how much will be required to settle it.

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Definitions:

Dramatistic Analysis

Analyzing communication as performance, as actors acting out a drama; sometimes called dramatism. For example, Burke’s dramatistic pentad asks questions such as these: What act is taking place? Who is taking this action? How or by what means did the act take place? Where and when did the act take place? Why was the act done?

Agent Refers

Typically denotes the doer of an action or the subject in a sentence structure in linguistics or semantic studies.

Marxist

Refers to the philosophical, economic, and political theories developed by Karl Marx, emphasizing class struggle and societal change through revolution.

Power Structures

The organization and distribution of power within a society, institution, or group, influencing decision-making and control.