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: L$ C, ?2 r5 \& n# ?9 o, ]- \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?5 w" f) a/ |1 x# K$ N2 U
A. Both should be classified as current." V3 [! m' [/ f4 m' U O
B. Both should be classified as non-current.
$ f, d* R' D8 J7 ^- F: H9 nC. One should be classified as current and one should be classified as non-current.+ Y: a" i" V0 r6 j, D. g
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