Short-term debt that is expected to be refinanced on a long-term basis may be excluded from the current liability classification if the company has the intent to refinance or the ability to refinance
Indicate whether the statement is true or false
False
You might also like to view...
Where computer processing is used in significant accounting applications, internal control activities may be defined by classifying control activities into two types: general and
A. Administrative. B. Authorization. C. Specific. D. Application.
If a company discounts a note at a bank, but still is contingently liable for the maturity value, then the note was discounted with ____________________
Fill in the blank(s) with correct word
A univariate hypothesis test using the standard normal distribution is called the ________
A) F-test B) p-test C) t-test D) z-test E) poisson test
At the beginning of the current year, Snell Co. total assets were $282,000 and its total liabilities were $191,200. During the year, the company reported total revenues of $127,000, total expenses of $93,000 and owner withdrawals of $22,000. There were no other changes in owner's capital during the year and total assets at the end of the year were $294,000. The company's debt ratio at the end of the current year is:
A. 65.0%. B. 53.8%. C. 147.00%. D. 67.8%. E. 35.0%.