A Present Obligation,as One of the Criteria for Recognising a Liability,implies

Multiple Choice

A present obligation,as one of the criteria for recognising a liability,implies:

A) there must be a legal obligation.
B) a legally binding contractual arrangement between two parties: the entity and another party.
C) the involvement of two separate parties-the entity and another party-of which the identity of the latter needs not necessarily to be known.
D) the involvement of two separate parties-the entity and another party-of which the identity of the latter must be known.