Which of the Following Best Reflects a Liability

Multiple Choice

Which of the following best reflects a liability?

A) A possible obligation that arises from past events and whose existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control
Of the entity
B) A probable obligation that arises from past events but is not recognised because it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation
C) A present obligation arising from past events the settlement of which is expected to result in and outflow of economic benefits
D) A liability of uncertain timing or amount