ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 296

b. Current liability if the creditor intends to call the debt within
the year, otherwise a long-term liability.

c. Current liability if it is probable that creditor will call the
debt within the year, otherwise a long-term liability.

d. Current liability

40. Which of the following is not a condition necessary to
exclude a short-term obligation from current liabilities?

a. Intend to refinance the obligation on a long-term basis.