Which of the following defines liabilities? Multiple Choice None of the other alternatives are correct Possible debts or

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answerhappygod
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Which of the following defines liabilities? Multiple Choice None of the other alternatives are correct Possible debts or

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Which of the following defines liabilities?
Multiple Choice
None of the other alternatives are correct
Possible debts or obligations of an entity as a result of future
transactions which will be paid with assets or services.
Possible debts or obligations of an entity as a result of past
transactions which will be paid with assets or services.
Probable debts or obligations of an entity as a result of future
transactions which will be paid with assets or services.
Probable debts or obligations of an entity as a result of past
transactions which will be paid with assets or services.
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