Which of the following is false ? (a) Under IFRS, current liabilities must always be presented before
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Which of the following is false ?
(a) Under IFRS, current liabilities must always be presented before noncurrent liabilities.
(b) Under IFRS, an item is a current liability if it will be paid within the next 12 months.
(c) Under IFRS, current liabilities are sometimes netted against current assets on the statement of fi nancial position.
(d) Under IFRS, a liability is only recognized if it is a present obligation.
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Related Book For 
Financial Accounting
ISBN: 9781119298229,9781119305842
10th Edition
Authors: Jerry J. Weygandt , Donald E. Kieso , Paul D. Kimmel
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