IFRS rules for reclassification of short-term debt are similar to U.S. GAAP except the short-term debt refinancing must occur ________.
A) by the balance sheet date
B) before the end of the year-end
C) by the balance sheet date unless the company has an existing arrangement
D) at any time before the financial statements are issued

Question

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IFRS rules for reclassification of short-term debt are similar to U.S. GAAP except the short-term debt refinancing must occur by the balance sheet date unless the company has an existing arrangement.

IFRS Rules for Reclassification of Short-Term Debt Are Similar to U.S