Question : When Period of Operating Cycle is less than 12 Months: Liabilities due for settlement (payment) within 12 months from the date of Balance Sheet are classified (shown) as ------------------

Option 1: Current liabilities

Option 2: Non – current liabilities 

Option 3: Non – current assets 

Option 4: None of the above 

Question : Due to be Settled within 12 Months from the Date of the Balance Sheet: A liability is classified or shown as ------.

Option 1: Non – current liabilities

Option 2: Current liabilities

Option 3: Current assets

Option 4: Non – current assets

Question : If the Expected Payment period is more than the period of the Operating Cycle and after 12 months from the date of the Balance Sheet.

Option 1: Current liabilities

Option 2: Non – current liabilities 

Option 3: Current Assets 

Option 4: None of the above 

Question : ---------------- are the assets which are likely to be converted into cash or cash equivalents within 12 months from the date of the Balance Sheet or within the period of an operating cycle. 

Option 1: Liquid Assets 

Option 2: Current Assets 

Option 3: Current liabilities 

Option 4: Total Assets 

Question : ---------------- are the assets which are likely to be converted into cash or cash equivalents within 12 months from the date of the Balance Sheet or within the period of an operating cycle. 

Option 1: Liquid Assets 

Option 2: Current Assets 

Option 3: Current liabilities 

Option 4: Total Assets