Explain whether each of the following would be considered a liability according to IFRS (using the criteria from the chapter) on December 31, 2014. Intuitively, would you consider each of these items a liability, regardless of how it’s accounted for according to IFRS? Explain.

a. An airline allows passengers who didn’t use their non-refundable tickets to redeem them for transportation within one year of the missed flight.

b. A \($1,000,000\) loan from a shareholder that bears no interest and has no scheduled repayment date.

c. An accounting firms signs a two-year contract in December 2014 with a janitorial company to clean its offices every night. The contract begins January 1, 2015 and the accounting firm will pays for the service on the first of each month.