IFRS identifies a number of criteria to determine whether a liability should be classified as current.A liability that satisfies any one of these criteria must be classified as current.For the following list of criteria,identify whether each one is relevant for the classification of a liability as current instead of non-current.
Definitions:
PLC Emergency Stop Circuits
Safety features in Programmable Logic Controllers designed to halt operations immediately to prevent accidents or equipment damage.
MCR Instruction
Master Control Reset Instruction, used in programming PLCs to control the execution of blocks of logic.
De-energize MCR Coil
The process of removing electrical power from a Master Control Relay (MCR) coil, which stops the current path in the control circuit.
Disconnect Switch
A disconnect switch, also known as an isolator switch, is a device used to ensure that an electrical circuit is completely de-energized for service or maintenance.
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