Which of the following is correct regarding the treatment of short-term obligations expected to be refinanced?
a. If an obligation has actually been refinanced or a firm refinancing agreement is in place by the date financial statements are issued, then reclassify the short-term obligation as long-term
b. Classify the short-term obligation as long-term if the obligation has been refinanced by the date the financial statements are issued
c. Classify the short-term obligation as long-term if the obligation has been refinanced by the balance sheet date.
d. There is no provision for reclassifying short-term obligations expected to refinanced as long-term obligations under international accounting standards.
C
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Answer the following statements true (T) or false (F)
1. Evaluating the information being sent is known as informational listening. 2. Listening with empathy is the basis for a host of important workplace skills and strategies. 3. Asking questions does not provide support to a speaker. 4. Action-oriented listeners prefer brief communication. 5. In the HURIER model, evaluating involves making sense of verbal and nonverbal codes to assign meaning to the information received.
Which of the following is usually expressed in the form of a percentage?
a. rate of interest; b. principal of the note; c. time of the note; d. discount of the note; e. maturity value
The account Common Stock Distributable is classified as a current liability
Indicate whether the statement is true or false
Consider a local club selling Christmas trees. If trees cost $15 and sell for $60 with no salvage value, what is the ideal service level? If salvage value is increased to $5, what is the change in service level?
What will be an ideal response?