Question

Loan taken from outsider which is repayable in the next 13 months will be classified as a/an liability.

• A. other current
• B. current
• C. non-current
• D. other non-current

Answer 1

The correct option is C non-current

If the loan taken from outsider and repayment is made within 12 months than it is classified as a current liability and if repayment is made after 12 months than it is classified as Non-current liability.