Which of the following is not a condition necessary to exclude a short-term obligation from current liabilities?

Which of the following is not a condition necessary to exclude a short-term obligation from current liabilities?




a. Intend to refinance the obligation on a long-term basis.
b. Obligation must be due with one year.
c. Demonstrate the ability to complete the refinancing.
d. Subsequently refinance the obligation on a long-term basis.



Answer: D


Accounting

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