中级财务会计英文版第八章课后题答案 Chapter 13 Current Liabilities and Contingencies QUESTIONS FOR REVIEW OF KEY TOPICS Question 13-1 A liability entails the present, the future, and the past. It is a present responsibility, to sacrifice assets in the future, caused by a transaction or other event that already has happened. Specifically, Elements of Financial Statements, Statement of Financial Accounting Concepts No. 6, par. 36, describes three essential characteristics: Liabilities
