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The "all or nothing event" refers to the fact that
Liabilities
Economic responsibilities or liabilities a corporation has towards other entities, necessitating repayment through transferring assets like money, merchandise, or services eventually.
Assets
Economic resources controlled by a business, capable of producing value, and are expected to benefit future operations, including cash, inventory, and property.
Creditors' Claims
Rights of lenders to receive payment from a borrower or from a borrower’s assets.
Liabilities
Liabilities represent obligations or debts that a company owes to external parties, which are expected to be settled through the outflow of resources or services.
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