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One 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?) n" n: X- R4 R H# M+ f
A. Both should be classified as current.
4 _+ p Y4 \: }+ A! HB. Both should be classified as non-current.
+ H' f8 J* J* x) A3 PC. One should be classified as current and one should be classified as non-current.
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