Which of the Following Statements Is True

question 86

Multiple Choice

Which of the following statements is true?

• A) If any portion of a non-current liability is to be paid in the next year, the entire debt should be classified as a current liability.
• B) "Current maturities of non-current debt" refers to the amount of interest on notes payable that must be paid in the current year.
• C) Even though current and non-current debt must be shown separately on the statement of financial position, it is not necessary to prepare a journal entry to recognize this.
• D) A non- current liability is an obligation that is expected to be paid within one year.

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Definitions:

PL94-142

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Prejudice or discrimination based on a person's gender, often resulting in unfair treatment or assumptions.