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What is an example of a probable future sacrifice

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Reference no: EM132998008

"Liabilities are probable future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or to provide services to other entities in the future as a result of a past transaction or event."

Problem 1: Why would a company consider a liability to be a sacrifice for the future growth?

Problem 2: What is an example of a probable future sacrifice?

Reference no: EM132998008

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