APB Statement 4 and SFAC No. 5 indicate that liabilities are measured at amounts established in the transaction, usually amounts to be paid it the future, but never discounted.

Name: APB Statement 4 and SFAC No. 5 indicate that liabilities are measured at amounts established in the transaction, usually amounts to be paid it the future, but never discounted.
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APB Statement 4 and SFAC No. 5 indicate that liabilities should generally be measured at their present value, which often requires discounting.