An Example of Where an Entity Has a Present Obligation

An example of where an entity has a present obligation is:

A) a public announcement made by an entity's management to undertake restructuring.
B) a recommendation from the HR manager to the Board of Directors as to the level of bonuses to be paid at the end of the financial period.
C) a historical pattern of performing a major overhaul of plant and machinery every three years.
D) the declaration of a dividend by directors which is yet to be approved at a meeting of shareholders.