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Which of the following is not considered a part of the definition of a liability? The transaction or other event creating the liability has already
Which of the following is not considered a part of the definition of a liability? The transaction or other event creating the liability has already occurred. It is an unavoidable obligation. Its liquidation is reasonably expected to require the use of existing resources classified as current assets or create other current liabilities. It is a present obligation that entails settlement by probable future transfer or use of cash, goods, or services
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