Which statement about liabilities is not correct?
A)Current liabilities are those that can be settled within one year.
B)Current liabilities are those that can be settled within one operating cycle.
C)Current liabilities are normally presented together with non-current liabilities.
D)Certain held for trading liabilities can also be reported as current liabilities.

Question

Quizplus · Accepted Answer

Current liabilities and non-current liabilities are typically presented separately on the balance sheet to provide a clearer picture of a company's financial obligations due within one year and those due after one year, respectively.

Which Statement About Liabilities Is Not Correct