If a Short-Term Obligation Is Excluded from Current Liabilities Because

question 115

Multiple Choice

If a short-term obligation is excluded from current liabilities because of refinancing, the footnote to the financial statements describing this event should include all of the following information except

• A) a general description of the financing arrangement.
• B) the terms of the new obligation incurred or to be incurred.
• C) the terms of any equity security issued or to be issued.
• D) the number of financing institutions that refused to refinance the debt, if any.

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