When can a non-current liability not be derecognized?
A)When the company discharges the obligation or it expires.
B)When the company pays the debt and continues to be liable for the liability.
C)When the underlying debt contract is canceled.
D)When the creditor provides the services specified in the debt contract.

Question

Quizplus · Accepted Answer

A non-current liability cannot be derecognized if the company pays the debt and continues to be liable for the liability.

When Can a Non-Current Liability Not Be Derecognized