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) {9 x, r7 }' eOne of a firm 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 balance sheet?' J! l$ x* `: _. [! O7 Z' f1 }: G+ I
A. Both should be classified as current.( h+ J$ d! T( d4 Y# @, L2 J4 ^
B. Both should be classified as non-current.
$ N# C# Q4 @' ^- b8 U' n# CC. One should be classified as current and one should be classified as non-current.
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