For U.S. GAAP reporters, short-term debt can be reclassified as long-term when the company intends to refinance on a long-term basis and the company can ________.

Question

Quizplus · Accepted Answer

Under U.S. GAAP, short-term debt can be reclassified as long-term if the company intends to refinance it on a long-term basis and can demonstrate the ability to consummate the refinancing before the financial statements are issued.

For US GAAP Reporters, Short-Term Debt Can Be Reclassified as Long-Term