In Disclosing Liabilities,a Reporting Entity

Multiple Choice

In disclosing liabilities,a reporting entity:

A) discloses on the basis of the current/non-current liability dichotomy.
B) 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.
C) 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.
D) discloses on the basis of order of liquidity.