Question 3 Which of the following statements is NOT true regarding liabilities: A. Allability is a probable future payment of assets or services. B. To be reported, it must be a present obligation that results from a past transaction or event and requires a future payment of assets or services. C. Information about liabilities is more useful when the balance sheet identifies them as either short or long term. D. Potential tuture wages to be paid to employees should be recorded as liabilities