Liabilities are generally classified on a statement of financial position as
A) small liabilities and large liabilities.
B) present liabilities and future liabilities.
C) tangible liabilities and intangible liabilities.
D) current liabilities and non-current liabilities.

Question

Quizplus · Accepted Answer

Liabilities on a statement of financial position are classified as current liabilities, which are due within one year, and non-current liabilities, which are due after one year.

Liabilities Are Generally Classified on a Statement of Financial Position