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.
Correct Answer:
Verified
Correct Answer:
Verified
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