Which of the Following Is Not a Characteristic of a Liability

question 73

Multiple Choice

Which of the following is not a characteristic of a liability?

• A) It represents a probable, future sacrifice of economic benefits.
• B) It must be payable in cash.
• C) It arises from present obligations to other entities.
• D) It results from past transactions or events.

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Definitions:

Self-Regulation

The ability to manage one's emotions, thoughts, and behaviors effectively in different situations, involving controlling impulses and executing self-control.

Domain-Specific

Domain-specific refers to knowledge, skills, or competencies that apply to a particular area or discipline, rather than being general or universal.

Financial Condition

The status of an entity's financial health, measured through assets, liabilities, and equity positions.

Better Established

A term indicating that something, such as a fact, practice, or institution, is widely recognized and firmly grounded or accepted.