Quick practice
Question 1 of 5
One of a firm's assets is 270-day commercial paper that the firm intends to hold to maturity. One of its liabilities is a short position in a common stock, which the firm holds for trading purposes. How should this asset and this liability be classified on the firm's balance sheet?
A
Both should be classified as non-current.
B
Both should be classified as current.
C
One should be classified as current and one should be classified as non-current
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