When shall an asset be classified as a Current Asset?

An item is classified as current:
 if it is involved in entity’s operating cycle or,
 is expected to be realised/settled within twelve months or,
 if it is held primarily for trading or,
 is cash and cash equivalent or,
 if entity does not have on unconditional rights to defer settlement of liability for atleast 12 months after the reporting period,
 Other assets and liabilities are non-current.