A receivable classified as current on the statement of financial position is expected to be collected within:

The current operating cycle or1 year, whichever is longer.

answer C is the correct answer 

the current operating cycle

A receivable classified as current on the statement of financial position or Balance Sheet is expected to be collected within1 year.

Answer (C) is correct..........

Option A:

Normally companies choose operating cycle equal to12 months. So generally we classify receivable who are  expected to recover within next twelve months.

Answer is D  i .e. The current operating cycle or1 year, whichever is shorter.

Within one year so option B is the right answer.

The current operating cycle is the current receivable

I guess option (B) is correct.