Which of the Following Is NOT True of Liabilities

question 5

Multiple Choice

Which of the following is NOT true of liabilities?

• A) Liabilities are future obligations of economic benefits.
• B) Liabilities must be legally owed debts.
• C) Liabilities must involve either the future sacrifice of assets,or the future performance of services.
• D) Liabilities can be estimates of future payments based on past agreements.

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Definitions:

Myelomeningocele

A type of spina bifida where the spinal canal and the backbone don't close before birth, resulting in damage to the spinal cord and nerves.

Hydrocephalus

A condition characterized by an abnormal accumulation of cerebrospinal fluid within the cavities of the brain, potentially causing increased pressure and swelling.

Craniostenosis

A condition characterized by the premature fusion of one or more sutures of an infant's skull, affecting skull and brain growth.

Myelomeningocele

A type of spina bifida where there is a hernia of the spinal cord and its meninges through a defect in the vertebral column.