The Criteria for Liability Recognition Include(s)

Multiple Choice

The criteria for liability recognition include(s) :

A) the item represents a present obligation, not a potential future commitment or intent.
B) the obligation must exist as a result of a past transaction or exchange, called the obligating event.
C) the obligation must require a probable future economic resource that the firm has little or no discretion to avoid.
D) the obligation must have a relevant measurement attribute that the firm can quantify with sufficient reliability.
E) All of these answers are correct.