Question: O A. A past transaction or event must Select the best answer for the question. 18. Which of the following must be true for a

O A. A past transaction or event must Select the best answer for the question. 18. Which of the following must be true for a liability to exist? westion 18 of 20 : have occurred. O B. The identity of the party must be known. se. The exact amount must be known. O D. An obligation to pay cash in the future must exist. Mark for review (Will be highlighted on the review page)

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