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Question 5 (4 marks) Apply the definition and recognition criteria of liabilities, discuss why, or why not, each of the following items is recognised as
Question 5 (4 marks) Apply the definition and recognition criteria of liabilities, discuss why, or why not, each of the following items is recognised as a liability in the financial statement. a) Provision for restoration cost
b) Unearned revenue
c) GST outlays
d) Allowance for doubtful debts
e) A disputable lawsuit
f) GST collection
g) Discount allowed
h) Debentures
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