If a Liability Satisfies the Following Criterion It Will Be

question 15

Multiple Choice

If a liability satisfies the following criterion it will be classified as non-current:

• A)due to be settled within twelve months of the balance date
• B)expected to be settled in the entity's normal operating cycle
• C)due to be settled more than twelve months after the statement of financial position date
• D)it is held primarily for the purpose of being traded.

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Definitions:

Sensory Adaptation

Diminished sensitivity as a consequence of constant stimulation.

Unchanging Stimulus

A stimulus that remains constant over time, not varying or changing in its characteristics.

Neural Impulses

Electrical signals that travel along neurons, facilitating communication within the brain and between the brain and the rest of the nervous system.

Organizing

The act of arranging or structuring elements in a systematic way to manage or coordinate activities.