Long-term debt that is callable by the creditor in the upcoming year should be classified as a current liability only if the debt is expected to be called.

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Long-term debt that is callable by the creditor in the upcoming year should be classified as a current liability if the creditor has the right to demand payment within the year, regardless of whether the debt is expected to be called.

Long-Term Debt That Is Callable by the Creditor in the Upcoming