Question: Commitments, such as contracts for future transactions: Select one: a . Are classified as liabilities. b . Are classified as assets. c . Are only

Commitments, such as contracts for future transactions:
Select one:
a.
Are classified as liabilities.
b.
Are classified as assets.
c.
Are only disclosed if negative due to the principle of conservatism.
d.
Are footnoted in financial statements, if material.

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