Which of the Following Is Not an Attribute of a Liability

question 64

Multiple Choice

Which of the following is not an attribute of a liability?

• A) Present obligation to transfer resources to another entity.
• B) The transfer is unavoidable by the entity.
• C) The transfer results in reduced economic benefits to the entity making the transfer.
• D) The event creating the responsibility has not yet occurred.

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Definitions:

Fixed Cost

Costs that do not vary with the level of production or sales activities, such as rent or salaries.

Total Cost

Total cost refers to the complete sum of all expenses incurred in the production of goods or services, including fixed and variable costs.

Child Abuse Prevention

Strategies and actions aimed at stopping maltreatment of children, including physical, emotional, sexual abuse, or neglect.

Homosexuals

Individuals attracted to members of the same sex.