Which of the Following Is Correct About a "Liability" Under

question 45

Multiple Choice

Which of the following is correct about a "liability" under IFRS Framework?

• A)A future obligation arising from past events,the settlement of which is expected to result in an inflow of resources.
• B)A present obligation arising from past events,the settlement of which is expected to result in an inflow of resources.
• C)A past obligation arising from past events,the settlement of which is expected to result in an outflow of resources.
• D)A present obligation arising from past events,the settlement of which is expected to result in an outflow of resources.

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Definitions:

Graduate Degree

An advanced academic degree pursued after completing an undergraduate degree, including master's and doctoral degrees.

Continuing Education

Programs or classes offered to adults beyond traditional schooling, aimed at personal development or professional skill advancement.

Diagnose

The process of identifying a disease or condition from its signs and symptoms through examination and tests.