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Question 1 At year-end, the executives awarded a bonus of $8 000 to their marketing manager for his outstanding performance during the year. However, due

Question 1

At year-end, the executives awarded a bonus of $8 000 to their marketing manager for his outstanding performance during the year. However, due to cash constraints the bonus was not to be paid. Advise the accountant if a liability exists. (5 marks)

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