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Which of the following is NOT a characteristic of a liability? Select one A . It is an obligation to transfer economic resources in the
Which of the following is NOT a characteristic of a liability? Select one A It is an obligation to transfer economic resources in the future. B It is the result of a past transaction. C It is an ownership interest in the entity. D It is probable that an outflow of resources will be required to settle the obligation. 
Which of the following is NOT a characteristic of a liability?
Select one
A It is an obligation to transfer economic resources in the future.
B It is the result of a past transaction.
C It is an ownership interest in the entity.
D It is probable that an outflow of resources will be required to settle the obligation.
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Governmental and Nonprofit Accounting Theory and Practice
Authors: Robert J. Freeman, Craig D. Shoulders, Dwayne N. McSwain, Robert B. Scott
11th edition
