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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?) q, j" ]5 c: T( X) j4 x
A. Both should be classified as current.
+ U+ A: U5 m7 S6 p1 zB. Both should be classified as non-current.
2 G5 H! A( l- W U9 JC. One should be classified as current and one should be classified as non-current.
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