Question: For a liability to exist: A. a past transaction or event must have occurred. OB. the identity of the party must be known. OC.

For a liability to exist: A. a past transaction or event must

For a liability to exist: A. a past transaction or event must have occurred. OB. the identity of the party must be known. OC. the exact amount must be known. OD. an obligation to pay cash in the future must exist.

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