The net deferrals are included in the balance sheet as part of:
A) assets.
B) current liabilities.
C) shareholders' equity.
D) long-term liabilities.

Name: The net deferrals are included in the balance sheet as part of: A) assets. B) current liabilities. C) shareholders' equity. D) long-term liabilities.
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Question

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Net deferrals, which include prepaid expenses and deferred revenue, are considered current liabilities as they represent obligations that are expected to be fulfilled within the next year.

The Net Deferrals Are Included in the Balance Sheet as Part