Under IAS 1,Presentation of Financial Statements,which of the Following Is

question 29

Multiple Choice

Under IAS 1,Presentation of Financial Statements,which of the following is NOT a definition of a current liability:

• A)It is a liability that is expected to be settled in an entity's normal operating cycle.
• B)It is a liability primarily held for the purpose of trading.
• C)It is a liability that does not have the right to defer until 18 months after the balance sheet date.
• D)It is a liability that is expected to be settled within 12 months of the balance sheet date.

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Definitions:

Body Cavity

A hollow or space within the body that contains and protects internal organs, such as the chest or abdominal cavities.

Canal

A tubular passage or channel in the body for the conveyance of fluids or air, such as the ear canal.

Scope

The extent, range, or breadth of something, especially a project, research, discussion, or activity, outlining its limitations and objectives.

Heart Function

Refers to the role of the heart in pumping blood throughout the body, supplying oxygen and nutrients while removing carbon dioxide and waste products.