Solved

Which One of the Following Types of Liabilities Represents a Duty

Question 16

Multiple Choice

Which one of the following types of liabilities represents a duty not contractually present but which may nevertheless exist due to ethical principles of fairness?


A) Deferred credits
B) Constructive obligations
C) Equitable obligations
D) Contingent liabilities

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q11: Under the revenue-expense approach, the income statement

Q12: The asset-liability approach complements the expense-liability approach

Q13: What are the three distinct types of

Q14: Which of the following is

Q15: In SFAS No. 121, both the recognition

Q17: Which of the following is a true

Q18: With the articulated approach to financial statements,

Q19: Which of the following is not true

Q20: SFAS requires that abnormal amounts of idle

Q21: If the balance sheet and income statement