A liability will be classified as non-current liability if it satisfies a criterion, which requires that, it should be a long-term debt that should be settled after one year of the statement of financial position date. For an entity with the current financial period ending on 28 February 2020, for its liabilities to be classified as non-current liabilities, on which date/period these liabilities should be settled?

. A liability will be classified as non-current liability if it satisfies a criterion, which requires that, it should be a long-term debt that should be settled after one year of the statement of financial position date. For an entity with the current financial period ending on 28 February 2020. for its liabilities to be classified as non-current liabilities, on which date/period these liabilities should be settled? A. 1 March 2021 to 28 February 2022 B. 1 March 2019 to 28 February 2020 C. 25 February 2021 D. 1 March 2020 to 28 February 2021 Reset Selection . . . Question 4 of 8 2.0 Points Which of the following definitions refers to liabilities' definition? A. Are the outflow of economic benefits during the accounting period, which results in a decrease in equity. Such a decrease can be the result of a decrease in assets or an increase in liabilities. B. Is the increase in economic benefits of an entity during an accounting period which results in an increase in equity. Such an increase can be the result of an increase in assets or a decrease in liabilities. C. Are present obligations of an entity as a result of past events and represent a potential outflow of cash from the entity D. Are resources controlled (used) by the entity, as a result of past events, and from which future economic benefits are expected to flow to the entity Reset Selection Question 5 of 8 2.0 Points . A liability will be classified as a current liability if it satisfies a criterion, which requires that, it is due to be settled within twelve months after the statement of financial position date. For an entity with the current financial period ending on 28 February 2020, for its liabilities to be classified as current liabilities, on which date/period these liabilities should be settled? A. 1 March 2021 to 28 February 2022 B. 1 March 2021 to 31 March 2021 C. 1 March 2020 to 28 February 2021 D. 1 March 2019 to 28 February 2020 . . . Reset Selection