The Essential Characteristics of a Liability Under the Definition in the Conceptual

Multiple Choice

The essential characteristics of a liability under the definition in the Conceptual Framework are?
i.A legal debt.
ii.A present obligation to an external party.
iii.Settlement requiring an outflow of resources embodying economic benefits.
iv.The obligation must have resulted from past events.

A) i,ii,iii,iv
B) i,ii,iii,
C) ii,iii
D) ii,iii,iv