Which of the Following Is Not a Condition Necessary to Exclude

Multiple Choice

Which of the following is not a condition necessary to exclude a short-term obligation from current liabilities?

A) Intend to refinance the obligation on a long-term basis.
B) Obligation must be due within one year.
C) Unconditional right to defer settlement of the liability for at least 12 months.
D) Subsequently refinance the obligation on a long-term basis.