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Find which is not an essential characteristic of a liability

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Reference no: EM132711557

Problem 1: Which of the following is not an essential characteristic of a liability:

(a) A liability embodies a present obligation to be settled by a probable future tractor

(b) The obligated company has little or no discretion to avoid the future sacrifice

(c) The obligation is legally enforceable.

(d) The transaction or event obligating the company has already happened.

Reference no: EM132711557

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