Which of the following is a not a correct statement about financial statements?

A Current assets refer to mostly liquid assets (financial capital) and inventory.

B Non-current assets refer to mostly fixed assets (physical capital) such as plant, equipment, and properties including land & building.

C Current liabilities refer to long-term payment obligations such as accounts payable and notes payable.

D Non-current liabilities refer to long-term debt such as bonds and mortgage.

E Liquid assets include cash, cash-equivalents, stocks and bonds, and accounts receivable.