Under IAS 1, Presentation of Financial Statements, Which of the Following

Multiple Choice

Under IAS 1, Presentation of Financial Statements, which of the following is NOT a criterion in the definition of a current liability?

A) It is a liability that is expected to be settled in an entity's normal operating cycle.
B) It is a liability primarily held for the purpose of trading.
C) It is a liability that does not have the right to defer until 18 months after the balance sheet date.
D) It is a liability that is expected to be settled within 12 months of the balance sheet date.