Which of the Following Statements Is Incorrect

Multiple Choice

Which of the following statements is incorrect?

A) Current assets are those assets that are realised or consumed within an entity's operating cycle.
B) For entities with diverse operations, such as retail and banking activities, a mixed basis of presentation may be appropriate.
C) An entity's operating cycle is usually 12 months but may be longer than 12 months after the reporting period.
D) An entity is permitted to classify deferred tax assets as current assets.