Question: When would a company recognize an expense and a liability for profit-sharing or bonus plans? 1. The company has a present legal or constructive obligation

When would a company recognize an expense and a liability for profit-sharing or bonus plans? 1. The company has a present legal or constructive obligation to make such payments as a result of past events. 2. The amount can be reliably estimated. 3. The amount is greater than 10% of the average annual profit.Multiple choice question.1 and 32 and 31 and 21,2 and 3

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