Question: The general principle is that a liability does NOT meet the definition and recognition criteria necessary to be recognised as a liability if it has:

The general principle is that a liability does NOT meet the definition and recognition criteria necessary to be recognised as a liability if it has:

Question 10 options:

1)

a low level of measurement uncertainty, a high probability of culminating in an outflow of economic benefits; or is as a result of a past event.

2)

a high level of measurement uncertainty, a low probability of culminating in an outflow of economic benefits; or is contingent upon the occurrence of a future event.

3)

a low level of measurement uncertainty, a high probability of culminating in an outflow of economic benefits; or is contingent upon the occurrence of a future event.

4)

a high level of measurement uncertainty, a low probability of culminating in an outflow of economic benefits; or is as a result of a past event.

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