Under IFRS, which of the following would most likely be classified as a current liability?
A) mortgage payable
B) bonds payable
C) bank indebtedness
D) contingent liability

Question

Quizplus · Accepted Answer

Bank indebtedness is typically classified as a current liability under IFRS because it usually represents short-term borrowing that is expected to be settled within the next 12 months.

Under IFRS, Which of the Following Would Most Likely Be