9. Which of the following items would be excluded from current liabilities? Group of answer choices a. Normal accounts payable which had been assigned by the creditor to a finance company. b. Long-term debt callable within one year or less because the debtor violated a debt provision. c. A short-term debt which at the discretion of the entity can be rolled over at least twelve months after the balance sheet date. d. A long-term liability callable or due on demand by the creditor even though the creditor have given no indication that the debt will be called.
9. Which of the following items would be excluded from current liabilities? Group of answer choices a. Normal accounts payable which had been assigned by the creditor to a finance company. b. Long-term debt callable within one year or less because the debtor violated a debt provision. c. A short-term debt which at the discretion of the entity can be rolled over at least twelve months after the balance sheet date. d. A long-term liability callable or due on demand by the creditor even though the creditor have given no indication that the debt will be called.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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9. Which of the following items would be excluded from current liabilities?
Group of answer choices
a. Normal accounts payable which had been assigned by the creditor to a finance company.
b. Long-term debt callable within one year or less because the debtor violated a debt provision.
c. A short-term debt which at the discretion of the entity can be rolled over at least twelve months after the balance sheet date.
d. A long-term liability callable or due on demand by the creditor even though the creditor have given no indication that the debt will be called.
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