5 Which statement about current liabilities is true? a. Current liabilities should be paid off within one year. b. Current liabilities should be combined with current assets to show working capital on the balance sheet. c. Bonds payable could never be current liabilities. d. Current liabilities have no place on a classified balance sheet. 6. The account, Deferred Income Taxes, could be the result of: a. using a declining balance method of depreciation for tax and a straight-line method for books b. financing the purchase of a factory with a mortgage payable c. a LIFO conversion for purposes of financial statement analysis d. all of the above are possible reasons for Deferred Income Taxes