Which of the Following Statements Is Correct

question 14

Multiple Choice

Which of the following statements is correct?

• A)A company may exclude a short-term obligation from current liabilities if it intends to refinance the obligation on a long-term basis.
• B)A company may exclude a short-term obligation from current liabilities if it has an unconditional right to defer settlement of the liability for at least 12 months.
• C)A company may exclude a short-term obligation from current liabilities if it is paid off after the statement of financial position date and subsequently replaced by long-term debt before the statement of financial position is issued.
• D)None of these.

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Definitions:

Geography

A field of science devoted to the study of the lands, features, inhabitants, and phenomena of the Earth and planets.

Individual Identity

Individual identity refers to a person's sense of self, shaped by personal choices, experiences, and various social and cultural factors.

White Privilege

The societal privileges that benefit white people over non-white people in some societies, particularly if they are otherwise under the same social, political, or economic circumstances.

Institutional Racism

The systemic policies and practices within and across institutions that perpetuate racial inequality and discrimination against certain racial or ethnic groups.