alleryStart learning →A liability with no unconditional right to defer settlement for twelve months is
ANon-current
BA reserve
CCurrent
DA provision
Answer & Solution
Correct answer: C. Current
Without an unconditional right to defer settlement for at least twelve months, the liability must be shown as current.
Keep practising Schedule III Division I Financial Statements
Browse all Schedule III Division I Financial Statements questions for CA Inter, or explore more Accounting topics.
Related questions
Subsidiaries not consolidated must be listed along withTransactions unrecorded in books but surrendered as income in tax assessments are shown asExport earnings in foreign exchange are disclosed on which basis?Imports must be disclosed on which valuation basis?A trading company discloses, under broad heads, itsA manufacturing company reports raw materials underDisclosure of CSR expenditure applies to companies covered underA separate item threshold is 1% of revenue or Rs 1,00,000, whichever is higher. For Rs 5 c