Which of the following is NOT a characteristic of a liability?
A) It will be settled by a future transfer of assets.
B) The company has no discretion to avoid the future sacrifice.
C) The obligating event has already happened.
D) All of these choices
Correct Answer:
Verified
Q1: Which of the following statements is true?
A)One
Q2: Which is not a characteristic of a
Q8: On the balance sheet, liabilities are generally
Q9: Under current standards of the FASB, liabilities
Q13: All of the following are examples of
Q15: Which of the following is a legal
Q15: FASB recommends that assets and liabilities with
Q18: Which of the following statements regarding the
Q20: Vacation pay or year end bonuses would
Q39: Current liabilities are obligations of a company
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents