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:

Buying Decision

The process by which a consumer decides whether to purchase a product or service, influenced by factors like needs, desires, and budget.

Startup

A newly established business, often in the tech sector, focusing on a unique product or service aiming for rapid growth.

Salesperson

An individual who sells goods or services to customers, aiming to meet their needs and drive company revenue.

Online Sources

Digital or internet-based platforms and tools that provide information, products, or services.