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compare and contrast the definition of liability under IASB andFASB and whih one is...

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Accounting

compare and contrast the definition of liability under IASB andFASB and whih one is better and why?

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A liability is a present obligation og the enterprise arising from the past events the settlement of which is expected to result in out flow of resources from the enterprise rmbodying economic benefits This definition is as per IASB standards    See Answer
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In: Accountingcompare and contrast the definition of liability under IASB andFASB and whih one is better...compare and contrast the definition of liability under IASB andFASB and whih one is better and why?

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