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) {4 O7 h3 b) B+ e* M: f; [1 bOne 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?
/ W! t# A+ @; o$ gA. Both should be classified as current.
: `& i0 q/ }% i) S$ C5 P1 SB. Both should be classified as non-current.- Y( `% @% Y$ ~$ s# z$ V2 N$ I
C. One should be classified as current and one should be classified as non-current.- x3 l! M- a$ ^. \) C
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