Under Ind AS 1 (Presentation of Financial Statements) as of November 2026, which of the following…

A loan repayable on demand is current because the borrower lacks the right at the reporting date to defer repayment for at least 12 months. The borrower’s expectation about when payment will actually occur does not change that classification. Ind AS 1 generally uses separate current and non-current categories and permits a liquidity-based presentation when it provides more relevant and reliable information. In a classified balance sheet, deferred tax balances are non-current, and assets expected to be realized in the normal operating cycle are current.