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All of the following statements regarding uncertainty in abilities are true except Multiple Choice O Liabilities can involve uncertainty in whom to pay A company
All of the following statements regarding uncertainty in abilities are true except Multiple Choice O Liabilities can involve uncertainty in whom to pay A company can create a liability with a known amount even when the holder of the note may not be known until the maturity date A company can have an obligation of a known amount to a known creditor but not know when it must be paid O A company only records liabilities when it knows whom to pay when to pay, and how much to pay. Without all three, alability cannot be recorded o A company can be aware of an obligation but not know how much will be required to settle it
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