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In order to be reported, liabilities: Multiple Choice Will always require a future outflow of cash. Always have a definite date for payment. Must have
In order to be reported, liabilities:
Multiple Choice
Will always require a future outflow of cash.
Always have a definite date for payment.
Must have certainty in exactly whom to pay.
Must be of a known amount.
Are at times estimated if the exact amount is not known.
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