alleryStart learning →Which feature makes a liability current at year-end?
AAn external credit rating
BA fixed interest rate
CA secured charge on assets
DNo unconditional right to defer
Answer & Solution
Correct answer: D. No unconditional right to defer
Without an unconditional right to defer settlement for at least twelve months, the liability is classified as current.
Keep practising Ind AS 1 Presentation of Financial Statements
Browse all Ind AS 1 Presentation of Financial Statements questions for CA Final, or explore more Financialreporting topics.
Related questions
If Ind AS rules are insufficient for users, what is added?In virtually all cases a true and fair view is achieved by what?How are items of dissimilar nature or function presented unless immaterial?Puttable instruments classed as equity need which outflow disclosed?What must be disclosed about externally imposed capital requirements?Capital disclosures follow information given to whom internally?A capital disclosure covers objectives, policies and what?Must estimation uncertainty disclosures include forecasts?