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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.

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