With respect to the IASB Framework's definition of a liability,and in particular the requirement for a present obligation,which of the following items would be recognised as liabilities?
i.An employee has accrued 2 months worth of long service leave with the company
ii.An employee has fallen ill and has accrued 12 days of sick leave which she will now use
iii.An employee has worked for the company for six years and has accrued 25 days sick leave

Question

Quizplus · Accepted Answer

The Answer of With respect to the IASB Framework's definition of a liability,and in particular the requirement for a present obligation,which of the following items would be recognised as liabilities?
i.An employee has accrued 2 months worth of long service leave with the company
ii.An employee has fallen ill and has accrued 12 days of sick leave which she will now use
iii.An employee has worked for the company for six years and has accrued 25 days sick leave

With Respect to the IASB Framework's Definition of a Liability,and