Which of the Following Characteristic Is Required for a "Liability

question 53

Multiple Choice

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

• A)Expected to result in the inflow of economic benefits.
• B)Expected to result in the inflow of economic benefits that are measurable.
• C)Expected to result in the outflow of resources embodying economic benefits.
• D)Expected to result in the outflow of economic benefits that are virtually certain.

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Definitions:

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