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What are three elements of the definition for liabilities

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Problem 1: What are the three elements of the definition for liabilities? List from the following items that are classified as liabilities and explain why, or why not, they are classified as liabilities:

a) Provision for warranty
b) Unearned revenue
c) GST payable
d) Allowance for doubtful debts
e) A disputable lawsuit

Reference no: EM132821339

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