Which Statement About Liabilities Is Not Correct

question 17

Multiple Choice

Which statement about liabilities is not correct?

• A)Current liabilities are those that can be settled within one year.
• B)Current liabilities are those that can be settled within one operating cycle.
• C)Current liabilities are normally presented together with non-current liabilities.
• D)Certain held for trading liabilities can also be reported as current liabilities.

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Definitions:

Muckrakers

Journalists and writers of the late 19th and early 20th centuries who sought to expose social ills and corporate and political corruption, aiming to spur public reform.

American Society

The societal structure and cultural norms of the United States, characterized by its diverse population and values such as freedom and democracy.

Robert La Follette

An American politician and the founder of the Progressive movement, he served as a member of the House of Representatives, the Governor of Wisconsin, and a U.S. Senator, advocating for democratic reforms and the regulation of big business.

Railroad Industry

A sector focused on the construction, operation, and management of railways, which are critical for the transportation of goods and passengers.