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Question(s) / Instruction(s):

All of the following statements regarding uncertainty in liabilities are true except:

 A) Liabilities can involve uncertainty in whom to pay.

 B) A company can create a known amount when issuing a note even though the holder of the note may not be known until the maturity date.

 C) A company can have an obligation of a known amount to a known creditor but not know when it must be paid.

 D) A company only records liabilities when it knows whom to pay, when to pay, and how much to pay.

 E) A company can be aware of an obligation but not know how much will be required to settle it.

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