Which of the following is not an essential characteristic of a liability? * O līability is a present obligation of an enterprise O the settlement of a liability will result to outflow of enterprise resources embodying ec O a liability arises from past transactions or events O liability is payable to a specific party
Which of the following is not an essential characteristic of a liability? * O līability is a present obligation of an enterprise O the settlement of a liability will result to outflow of enterprise resources embodying ec O a liability arises from past transactions or events O liability is payable to a specific party
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 1RE
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