The signing of an employment contract at a fixed

The signing of an employment contract at a fixed salary
An obligation to provide goods or services in the future
A note payable with no specified maturity date
An obligation that is estimated in amount
13. PRESENTATION OF CURRENT LIABILITIES
Listing current liabilities in the order of maturity
Listing current liabilities according to amount
Offsetting current liabilities against assets that are to be applied to their
liquidation
Showing current liabilities in the order of liquidation preference
14. LEGAL OBLIGATION
Legislation
A contract
Other operation of law
An established pattern of practice
15. REIMBURSEMENT
16. Statement 1 - An outflow of resources embodying economic benefits is
regarded as probable when the probability that the event will occur is 90%
likely. Statement 2 - Obligating event creates a legal or constructive
obligation because the entity has no other realistic alternatives but to settle
the obligation. Statement 3 - A legal obligation is an obligation that derives
itself from legislation, contract and an established pattern of practice.

17. Statement 1 - A contingent asset is a deferred income. It shall be
recognized when it is probable and measurable. Statement 2 - The proper