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! p4 s7 S j, ~0 G- oOne 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?
- x' h) @, p6 a! F# \A. Both should be classified as current.3 k( X4 F# Q* m, B) S
B. Both should be classified as non-current.
, y% p# w' F9 H& LC. One should be classified as current and one should be classified as non-current.
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