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Alex Ar [27]
3 years ago
15

Karin Company's loan is due on July 1, 2018. What conditions must Karin meet (at a minimum) so that the note can be classified a

s a long-term liability on the company's balance sheet at December 31, 2017
Business
1 answer:
Sindrei [870]3 years ago
8 0

Answer: D. A & C

Explanation:

A long term liability is one that is due to be paid in a period longer than a year. The loan is due in less than a year so the only way to classify it as a long term liability is to make it a loan that will extend past a year. This can be done through refinancing which is to replace the current loan with another loan.  

Karin's company therefore would need to demonstrate that the obligation can be refinanced on a long-term basis by them and they must also have the intention to do so as well.

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Answer:

$1,264.50

Explanation:

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Using this formula

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3 years ago
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Scilla [17]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

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