Which of the Following Statements Is Incorrect

question 69

Multiple Choice

Which of the following statements is incorrect?

• A)The currently maturing portion of long-term debt must be classified as a current liability.
• B)The non-current portion of long-term debt will be correctly reported as a long-term liability.
• C)When a company plans to refinance the currently maturing debt on a long-term basis,and has the ability to do so,it may report the currently maturing debt as a long-term liability.
• D)The currently maturing portion of long-term debt is a current liability if it is due within one year from the date of the balance sheet,or within the operating cycle,whichever is longer.

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Definitions:

Gestures

Movements of the body, especially the hands and arms, that express ideas or feelings.

Showing

The act of making something visible or displaying something for people to see.

Archegoniophore

The structure that bears archegonia, found in certain plants like liverworts and ferns, facilitating reproduction.

Liverworts

Simple, non-vascular plants that are part of the bryophyte group, often found in moist habitats and playing a role in the ecosystem as pioneer species.