Which of These Items Would Not Meet the Definition of a Liability

question 32

Multiple Choice

Which of these items would not meet the definition of a liability under the IASB Framework and the current accounting standards?
i.A provision for uninsured losses
ii.An unconditional purchase obligation
iii.Accrued long service leave.

• A)i,iii
• B)i,ii,
• C)i.ii,iii
• D)i,

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Definitions:

Differential Association Theory

A theory in criminology suggesting that individuals learn deviant behavior from those close to them who provide models of and opportunities for deviance.

Criminal Personality

refers to a psychological construct that suggests certain personality traits or characteristics are associated with criminal behavior.

Anomie

A state or condition of society characterized by a breakdown or absence of social norms and values, often leading to social instability.

Emile Durkheim

A French sociologist, one of the founding figures of sociology, known for his studies on social cohesion, religion, and theories on the social causes of suicide.