A Liability Should Only Be Recognised in the Financial Statements

Multiple Choice

A liability should only be recognised in the financial statements when: (i) reserves have been set aside by the entity
(ii) the amount can be measured reliably
(iii) it is probable that the future sacrifice of economic benefits will be required.

A) (i) and (ii) only
B) (i) and (iii) only
C) (ii) and (iii) only
D) (i) ,(ii) and (iii) .