In accordance with IAS 1, which of the following statements is correct? Question content area bottom Part 1 A. For the purpose of classifying assets and liabilities into current and non-current components, the entity's operating cycle can be more than 12 months. B. Assets and liabilities must be presented in the order of decreasing liquidity. C. Intangible assets must be presented separately in the statement of financial position. D. Assets and liabilities can be offset if they arise from the same transaction or event