Balance 1. _____________ items presented in the statement of 2. ______________ position are generally classified as 3. _____________ and non current items. How long is “current ”? Current means one year or 4. ______________ than the normal course of the entity 's 5. ______________ cycle. It is the time between the 6 . ______________ of materials for processing and their 7. ______________ in cash or cash 8 . ______________. Accordingly, assets expected to be 9. ______________ and liabilities expected to be 10. ______________ or other wise satisfied within short term are current items.