Which of the Following Statements Is True

Multiple Choice

Which of the following statements is true?

A) One of the essential characteristics of a liability is that the transaction or other event obligating the entity will probably occur in the future.
B) In order for there to be a liability, a duty or responsibility must be present that obligates a particular entity.
C) In order for there to be a liability, a legally enforceable claim must be present.
D) In order to have a liability, the identity of the recipient must be known.