(a) A
possible obligation that arises from past events and whose existence will be
confirmed only by the occurrence or non-occurrence of one or more uncertain
future events not wholly within the control of the enterprise; or
(b) A
present obligation that arises from past events but is not recognized because:
i.
It is not probable that an outflow of resources
embodying economic benefits will be required to settle the obligation; or
ii.
The amount of the obligation cannot be measured
with sufficient reliability.
