Under AASB 101 the classification of assets into current and non-current will depend on the entity's:
A) average operating cycle.
B) current accounting period.
C) ordinary course of business.
D) normal operating cycle.

Question

Quizplus · Accepted Answer

Under AASB 101, the classification of assets into current and non-current depends on the entity's normal operating cycle, reflecting the time between the acquisition of assets for processing and their realization in cash or cash equivalents.

Under AASB 101 the Classification of Assets into Current and Non-Current