Companies with current maturities of long-term debt are required to report an amortization schedule in their financial statements.

Question

Quizplus · Accepted Answer

Companies are required to provide a schedule of long-term debt maturities in the financial statement footnotes. An amortization schedule is used to determine the correct interest expense and book value of the debt. The schedule itself is not part of the financial statements.

Companies with Current Maturities of Long-Term Debt Are Required to Report