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" N9 A1 Z( Q% ?1 P H& TOne 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?7 ^5 G1 C0 X) p9 P
A. Both should be classified as current.8 R: G* f! w. h: j( A. E
B. Both should be classified as non-current.
; u/ c, T; @4 cC. One should be classified as current and one should be classified as non-current.: p9 i) M6 p! M6 U: s+ V
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