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ACCA Applied Knowledge · Financial Accounting · Statement of financial position

Which of the following items would NOT be presented as a separate line item within non-current assets on the face of the statement of financial position of a company?

Trade receivables due within 60 days are not a non-current asset. They are expected to be realised within the normal operating cycle, so they are shown in current assets, whereas property, plant and equipment, intangibles and investment property are long-term assets.

  1. AInvestment property held for rental income
  2. BIntangible assets such as capitalised development costs
  3. CTrade receivables due from customers within 60 daysCorrect
  4. DProperty, plant and equipment

Explanation

Trade receivables are expected to be realised in the normal operating cycle and are current assets. Property, plant and equipment, intangible assets and investment property are all long-term assets presented within non-current assets.

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