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  3. Study Set
    Australian Financial Accounting
  4. Exam
    Exam 10: An Overview of Accounting for Liabilities
  5. Question
    The Present Obligation Component of a Liability Must Be Based
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The Present Obligation Component of a Liability Must Be Based

Question 49

Question 49

Multiple Choice

The present obligation component of a liability must be based on:


A) a legal obligation only.
B) a social obligation.
C) a contractual obligation.
D) none of the given answers.

Correct Answer:

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