Which Statement Is Correct About Financial and Non-Financial Liabilities

Multiple Choice

Which statement is correct about financial and non-financial liabilities?

A) A non-financial liability is a contractual obligation to deliver cash to another party.
B) A non-financial liability does not meet all of the criteria for a "liability."
C) The two liabilities may be valued differently for financial reporting purposes.
D) A non-financial liability is measured at fair value rather than amortized cost.