Multiple Choice
Which of the following is correct about a "liability" under IFRS Framework?
A) a future obligation arising from current events,the settlement of which is expected to result in an outflow of resources
B) a present obligation arising from current events,the settlement of which is expected to result in an outflow of resources
C) a future 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
Correct Answer:
Verified
Correct Answer:
Verified
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