A liability would not include an obligation to
A)transfer assets.
B)hire an employee.
C)pay cash.
D)provide services.

Question

Quizplus · Accepted Answer

Liabilities represent an entity's obligations to transfer assets, pay cash, or provide services to other entities in the future as a result of past transactions or events. Hiring an employee does not in itself create a liability to transfer assets, pay cash, or provide services; it is the employment contract and the work performed under that contract that might create such obligations.

A Liability Would Not Include an Obligation to