Which of the following statements regarding uncertainty in liabilities is false?

Multiple Choice

A company only records liabilities when it knows whom to pay, when to pay, and how much to pay. Without all three, a liability cannot be recorded.

Liabilities can involve uncertainty in whom to pay.

A company can have an obligation of a specific amount to a known creditor but not know when it must be paid.

A company can be aware of an obligation but not know how much it will be required to pay.

A company can create a liability with a known amount even when the holder of the note may not be known until the maturity date.