which of the following instances would a liability that would otherwise be presented as current is presented as noncurrent a. The liability is payable on demand but the lender promises the entity after the reporting period that the lender will not demand payment in the next 12 months b. The entity
which of the following instances would a liability that would otherwise be presented as current is presented as noncurrent a. The liability is payable on demand but the lender promises the entity after the reporting period that the lender will not demand payment in the next 12 months b. The entity
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter4: Balance Sheet: Presenting And Analyzing Resources And Financing
Section: Chapter Questions
Problem 9Q
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In which of the following instances would a liability that would otherwise be presented as current is presented as noncurrent
a. The liability is payable on demand but the lender promises the entity after the reporting period that the lender will not demand payment in the next 12 months
b. The entity enters into a refinancing agreement after the reporting period but before the financial statements are authorized for issue
c. The entity enters into a refinancing agreemerit and the agreement is completed by the balance sheet date
d. The liability is payable on demand but the entity estimates that it is probable that the lender will not demand payment
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