Which of the Following Characteristic Is Required for a "Liability

question 53

Multiple Choice

Which of the following characteristic is required for a "liability" under IFRS Framework?

• A)Expected to result in the inflow of economic benefits.
• B)Expected to result in the inflow of economic benefits that are measurable.
• C)Expected to result in the outflow of resources embodying economic benefits.
• D)Expected to result in the outflow of economic benefits that are virtually certain.

---

Definitions:

Competing Values Framework

A procedure that provides a way to identify, measure, and change organizational culture.

Clan Culture

Clan Culture is an organizational culture characterized by a familial approach, prioritizing collaboration, support, and a strong sense of loyalty among its members.

Mentors

Experienced individuals who offer guidance, advice, and support to less experienced persons, often in a professional context.

Coaches

Professionals who provide guidance and training to improve an individual's skills, performance, or personal development.