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A. Long-term liabilities
B. Current liabilities unless the debtor goes bankrupt
C. Current liabilities unless the creditor has waived the right to demand repayment for more than1 year from the balance sheet date.
D. Contingent liabilities until the violation is corrected
C. Current liabilities unless the creditor has waived the right to demand repayment for more than1 year from the balance sheet date. (EXPLANATION: Long-term obligations that are or will become callable by the creditor because of the debtor's violation of a provision of the debt agreement at the balance sheet date normally are classified as current liabilities. However, the debt need not be reclassified if the violation will be cured within a specified grace period or if the creditor formally waives or subsequently loses the right to demand repayment for a period of more than a year from the balance sheet date (also, reclassification is not required if the debtor expects and has the ability to refinance the obligation on a long-term basis). )
Yes,current liabilities unless the creditor waived the right to demand the repayment for more than one year from the balance sheet
E. Current liabilities unless the debtor goes insane
Long-term obligations that are or will become callable by the creditor because of the debtor's violation of a provision of the debt agreement at the balance sheet date normally are classified as current liabilities. However, the debt need not be reclassified if the violation will be cured within a specified grace period or if the creditor formally waives or subsequently loses the right to demand repayment for a period of more than a year from the balance sheet date.
