The following are normally presented in a statement of financial position as current items:
A) deferred tax liabilities.
B) accounts payable.
C) deferred tax assets.
D) property, plant and equipment.

Question

Quizplus · Accepted Answer

Accounts payable is a current liability and is presented as a current item in a statement of financial position as it is expected to be settled within the next 12 months. Deferred tax liabilities and deferred tax assets are presented as non-current items as they relate to taxes to be paid or received in the future beyond the next 12 months. Property, plant and equipment is a non-current asset and is also presented as a non-current item in a statement of financial position.

The Following Are Normally Presented in a Statement of Financial