Which of the Following Is Not a Characteristic of a Liability,according

question 28

Multiple Choice

Which of the following is not a characteristic of a liability,according to the IASB Framework?

• A) A future deposition or transfer of economic benefits to others
• B) A past transaction or event to have created the obligation
• C) There must be a legal obligation
• D) None of the given options are correct

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Definitions:

Water Pollution

The contamination of water bodies, such as lakes, rivers, oceans, and groundwater, caused by harmful substances or microorganisms, which can negatively impact aquatic life and human health.

Overpopulation

is the condition where the number of organisms exceeds the carrying capacity of their habitat, leading to environmental degradation and resource depletion.

Vested Interest

A personal stake or involvement in an undertaking or situation, especially where one stands to gain from a particular outcome.

Diseases

Abnormal conditions affecting the body of an organism, often characterized by specific signs and symptoms, and not resulting directly from physical injury.