According to the Existing IFRS and the CICA Handbook Part

Multiple Choice

According to the existing IFRS and the CICA Handbook Part II guidelines, which of the following is NOT an essential characteristic of a liability?

A) It embodies a duty or responsibility.
B) The transaction or event that obliges the entity has occurred.
C) The obligation is enforceable on the obligor entity.
D) The entity has little or no discretion to avoid the duty.