If a liability satisfies the following criterion it will be classified as non-current:
A)due to be settled within twelve months of the balance date
B)expected to be settled in the entity's normal operating cycle
C)due to be settled more than twelve months after the statement of financial position date
D)it is held primarily for the purpose of being traded.

Question

Quizplus · Accepted Answer

According to accounting standards, liabilities that are due to be settled more than twelve months after the statement of financial position date are classified as non-current liabilities.

If a Liability Satisfies the Following Criterion It Will Be