Which of the following is not considered a characteristic of a liability? O Present obligation. O Arises from past events. O Results in an outflow of resources. Liquidation is reasonably expected to...

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Extracted text: Which of the following is not considered a characteristic of a liability? O Present obligation. O Arises from past events. O Results in an outflow of resources. Liquidation is reasonably expected to require use of existing resources classified as current assets. Clear selection What is the relationship between current liabilities and operating cycle?