The Purpose of Reporting Current Maturities of Long-Term Debt Is

question 22

Multiple Choice

The purpose of reporting Current Maturities of Long-Term debt is to:

• A) report any portion of a long-term borrowing that is to be paid in the upcoming accounting period as a current liability.
• B) reclassify a portion of debt from the noncurrent section of the balance sheet to the current section of the balance sheet.
• C) properly classify liabilities.
• D)all of the above.

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