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Which of criteria specified in the conceptual framework

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Problem 1: Which of these criteria specified in the Conceptual Framework must be met before a liability can be recognised in the accounting records?

i. It is probable that the future sacrifices associated with the item will occur.
ii. The liability is beyond a reasonable doubt.
iii. The liability has a cost or value that can be measured with reliability.

Select one:

a. ii, iii

b. i, ii, iii

c. i, iii

d. i, ii

Reference no: EM132642304

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