Which of the Following Characteristic Is Required for a Liability

question 47

Multiple Choice

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

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

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Definitions:

Social Networks

Platforms and communities that connect individuals online, facilitating the sharing of information and fostering social interactions and relationships.

Star Performer

An exceptionally talented individual who significantly outperforms peers, often contributing a disproportionate amount of value to an organization.

Output

The final product, result, or amount of production achieved, often used to measure efficiency or performance.

Electronic Devices

Gadgets powered by electricity, including computers, smartphones, tablets, and various household appliances.