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9) F Ltd, a company which builds houses, has a normal operating cycle of 18 months and a year end of 30 June 20X5. According
9) F Ltd, a company which builds houses, has a normal operating cycle of 18 months and a year end of 30 June 20X5. According to IAS 1 Presentation of Financial Statements, which of the following assets should be classified as 'current' in F Ltd's statement of financial position as at 30 June 205 ? a) Inventory which is expected to be realised in September 206 b) A house constructed by Finstock Ltd which is expected to be sold in December 205 c) Marketable securities which are expected to be realised in September 20X6 A (a) and (b) only B (b) and (c) only C (a) and (c) only D All of the above
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