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.

---

Definitions:

\(n + 1\)

An expression representing one more than a given number \(n\).

\(( n + 6 ) !\)

A notation indicating the factorial of n plus 6, meaning the product of all positive integers up to n+6.

\(( n + 3 ) !\)

Denotes the factorial of the sum of a variable n and 3, representing the product of all positive integers up to and including (n+3).

\(n !\)

Denotes the factorial of n, which is the product of all positive integers less than or equal to n.