Accounting MCQ Current Liabilities and Contingencies A long-term liability should be reported as a current liability in a classified balance sheet if the long-term debt

A long-term liability should be reported as a current liability in a classified balance sheet if the long-term debt

Naim 08:33 Current Liabilities and Contingencies

A long-term liability should be reported as a current liability in a classified balance sheet if the long-term debt

A. is callable by the creditor.
B. is secured by adequate collateral.
C. will be refinanced with stock.
D. will be refinanced with debt.

Answer: A

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