A constructive obligation differs from a legal obligation because it a) Is created by law. _? b) Only applies to government entities c) Has no financial impact d) Is created by valid expectations from past. practice

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
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Chapter4: Balance Sheet: Presenting And Analyzing Resources And Financing
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A constructive obligation differs from a legal
obligation because it
a) Is created by law.
_?
b) Only applies to government entities
c) Has no financial impact
d) Is created by valid expectations from past.
practice
Transcribed Image Text:A constructive obligation differs from a legal obligation because it a) Is created by law. _? b) Only applies to government entities c) Has no financial impact d) Is created by valid expectations from past. practice
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