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The Appreciation of Humor Has Been Hypothesized to Be a Function

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The appreciation of humor has been hypothesized to be a function of children's level of cognitive development-specifically, their ability to deal with


Definitions:

Present Obligation

An obligation that arises from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.

Contingent Liability

A potential financial obligation that may arise in the future, depending on the outcome of a specific event.

Liabilities

Financial obligations or debts that an entity owes to others, which must be settled in the future through the transfer of assets or services.

Provisions

Liabilities of uncertain timing or amount, set aside in anticipation of future obligations or costs.

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