Which of the following is not a characteristic of a liability?
A) It represents a probable,future sacrifice of economic benefits.
B) It must be payable in cash.
C) It arises from present obligations to other entities.
D) It results from past transactions or events.
Correct Answer:
Verified
Q1: On November 1,2012,New Morning Bakery signed a
Q2: On September 1,2012,Daylight Donuts signed a $100,000,9%,six-month
Q3: Brian Inc.borrowed $8,000 from First Bank and
Q4: On September 1,2012,Daylight Donuts signed a $100,000,9%,six-month
Q6: On December 1,2012,Old World Deli signed a
Q7: Which of the following is not a
Q8: On November 1,2012,New Morning Bakery signed a
Q9: The Pita Pit borrowed $100,000 on November
Q10: On November 1,2012,The Bagel Factory signed a
Q11: The Pita Pit borrowed $100,000 on November
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