In which one of the following circumstances would an organization not recognise a liability on its statement of financial position?
A) When the obligation cannot be measured, in such a way that a faithful representation is achieved.
B) When the obligation cannot be avoided.
C) When the entity has an obligation at the statement of financial position date.
D) When a transfer of an economic resource will take place.

Question

Quizplus · Accepted Answer

When the obligation cannot be measured, in such a way that a faithful representation is achieved.

In Which One of the Following Circumstances Would an Organization