Which of the following situations would not require that long-term liabilities be reported as current liabilities on a classified balance sheet?
A)The long-term debt is callable by the creditor.
B)The creditor has the right to demand payment due to a contractual violation.
C)The long-term debt matures within the upcoming year.
D)All of the above require the current classification.

Question

Quizplus · Accepted Answer

All the situations listed require the long-term liabilities to be classified as current liabilities because they involve either the debt being due within the year or conditions that allow the creditor to demand immediate payment.

Which of the Following Situations Would Not Require That Long-Term