Professor can you please explain this condition of current liability:
"A company does not have an unconditional right to defer settlement for at least 12 months after the statement of financial position date."
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Liability
4y ago#1A current liability is a liability that is payable within 12 months of the date of the SOFP.
If they have the right to delay payment more than 12 months, then it becomes a non-current liability.
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