menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Intermediate Accounting Study Set 9
  4. Exam
    Exam 13: Current Liabilities and Contingencies
  5. Question
    A Company Can Exclude a Short-Term Obligation from Current Liabilities
Solved

A Company Can Exclude a Short-Term Obligation from Current Liabilities

Question 58

Question 58

True/False

A company can exclude a short-term obligation from current liabilities if it intends to refinance the obligation and has an unconditional right to defer settlement of the obligation for at least 12 months following the due date.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q53: Liabilities are<br>A) any accounts having credit balances

Q54: Use the following information for questions 100

Q55: A company is legally obligated for the

Q56: Roxy Co., which has a taxable payroll

Q57: When is a contingent liability recorded?<br>A) When

Q59: Slack Inc. borrowed $320,000 on April 1.

Q60: An onerous contract is one in which

Q61: Among the short-term obligations of Larsen Company

Q62: To record an asset retirement obligation (ARO),

Q63: Venible newspapers sold 6,000 of annual subscriptions

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines