The following are possible descriptions of items that appear in statements of financial position (balance sheets):

(i) Cash, described as a current asset

(ii) Finished goods inventory (stock), described as a non-current (fixed) asset

(iii) Equipment, described as a current asset

(iv) Trade payables (creditors), described as current liabilities Which of the above statements are correct?

(a) (i) and (ii) only

(b) (i) and (iv) only

(c) (i), (ii) and (iii) only

(d) (i), (ii) and (iv) only