Question: In disclosing liabilities, a reporting entity: discloses on the basis of the current/non-current liability dichotomy. has a choice, based on the notions of relevance and

In disclosing liabilities, a reporting entity:

discloses on the basis of the current/non-current liability dichotomy.

has a choice, based on the notions of relevance and reliability to disclose liabilities either on the basis of the current/non-current liability dichotomy or on the basis of order of liquidity.

has a choice, based on the principle of conservatism to disclose liabilities either on the basis of the current/non-current liability dichotomy or on the basis of order of liquidity.

discloses on the basis of order of liquidity.

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