Asked by
Mychaela Hassi
on Oct 15, 2024
Verified
A company cannot have a liability if the amount of the obligation is unknown.
Obligation
A duty or commitment to fulfill an agreement, such as repaying a loan or delivering goods or services as contracted.
Liability
A financial obligation or debt that a company or individual owes to another entity.
- Absorb information regarding the defining aspects and elements of a liability.
Verified Answer
NN
Learning Objectives
- Absorb information regarding the defining aspects and elements of a liability.
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