A liability does not exist if there is any uncertainty about whom to pay, when to pay, or how much to pay.

Name: A liability does not exist if there is any uncertainty about whom to pay, when to pay, or how much to pay.
Brand: Quizplus
Rating: 4.7 (42 reviews)

Question

Quizplus · Accepted Answer

A liability can still exist even if there is uncertainty about whom to pay, when to pay, or how much to pay. The recognition of a liability is based on the obligation arising from past events, not the certainty of payment details.

A Liability Does Not Exist If There Is Any Uncertainty