A liability is a probable future payment of assets or services that a company is presently obligated to make as a result of past transactions or events.

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michelle pacheco · Accepted Answer

Final Answer : True, Explanation :  A liability is defined as a present obligation of a company to transfer assets or provide services in the future due to past events or transactions.

A liability is a probable future payment of assets or services that a company is presently obligated to make as a result of past transactions or events.

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