Kline Company refinanced current debt as long-term debt on January 5, 2012. Kline's fiscal year ended on December 31, 2011, and its financial statements will be issued sometime in early March, 2012. Under IFRS, how would Kline classify the debt on its December 31, 2011 balance sheet?
A. In the "mezzanine" between current and non-current liabilities.
B. Kline would not classify the debt as current or noncurrent, but rather would write a disclosure note explaining the circumstances.
C. As a noncurrent liability.
D. As a current liability.
Answer: D
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