If Any Portion of a Long-Term Debt Is to Be

question 167

True/False

If any portion of a long-term debt is to be paid in the next year,that portion should be classified as a current liability.

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Definitions:

Marketing Department

A division within an organization responsible for developing strategies to promote and sell products or services to customers.

Multinational Corporation

A large company that operates in several countries around the world, managing production or delivering services in more than one country.

Business Strategy

A plan of action designed by an organization to achieve a specific goal or to secure a competitive position in the market.

Trade Association

An organization founded and funded by businesses that operate in a specific industry, aimed at promoting their collective interests.