Current and non-current liabilities are categorised based on:
A) to whom the liability is owed.
B) when the liability is due for payment.
C) whether the liability is secured or unsecured.
D) the size of the liability.

Question

Quizplus · Accepted Answer

Current and non-current liabilities are categorised based on when the liability is due for payment. Current liabilities are due within a year, while non-current liabilities are due in more than a year. The other options (A, C, D) do not determine the categorisation of liabilities.

Current and Non-Current Liabilities Are Categorised Based On